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Can robo-advisers be fiduciaries?
Responsibility for advice — even that which is incidental to a transaction — cannot be palmed off on an inanimate object.
UBS to pay $2.9 million to settle investor Puerto Rico claims
Finra orders the firm to pay about $2.9 million to two investors in Puerto Rico closed-end municipal bond funds. Total claims top $1.1 billion.
Court date set in attempt by Camardas for a trial in case against CFP Board
Florida financial advisers are appealing a lower court decision in ongoing legal battle over how they can describe their compensation.
SEC derivatives rule could limit investors’ ability to diversify portfolios, critics say
The comment period for the rule, which was introduced in December, closed on Monday.
DOL fiduciary rule will transform the annuity industry
If the Labor Department has its way, say goodbye to the variable annuity industry as we know it. (Related: Spotlight on Annuity Strategies special report)
Finra asks 8 questions to assess a firm’s ‘culture’
Regulator launches target examination to assess compliance values and how they influence brokerages' ability to adhere to securities rules.
Bernie Sanders struggles for details in his populist attacks on Wall Street
Plus: Most investors made money in March, negative interest rates could mean the end of cash as we know it, and re-writing office dress codes
Genworth to pay $219M to settle securities lawsuit related to long-term-care insurance
The insurer allegedly made false representations to investors over the strength of its long-term-care business.
On verge of GOP nomination, advisers say Trump is still largely an unknown
One says isolationist policies could be bad for economic growth, but another likes his stand on tax reform.
State regulators offer training to help spot senior financial abuse
The North American Securities Administrators Association will make Senior$afe available to its members next month.
Think your stock fund is risky? Try these ETFs
Exchange-traded funds have achieved a new feat, producing dozens of funds that are riskier than the most volatile individual stocks in the Standard and Poor's 500 stock index.
SEC adds ETFs, variable annuities to exam priorities
The Securities and Exchange Commission will be looking at ETF sales strategies, trading practices and disclosures, as well as suitability and sales supervision of variable annuities.
MoneyGuidePro updates new version in line with DOL fiduciary rule requirements
Updates for the latest version include features on client goals, life expectancy, household risk tolerance, health care and Social Security.
The implications of the DOL retirement study for plan advisers
Regulators are continuing their push for industry-provided data to improve compliance oversight.
Kocherlakota: Use the power of negative rates
If the Fed takes rates into negative territory, it might actually be able to raise rates faster and higher
Finra charges former broker with improperly trading customers accounts
David Randall Lockey, who had worked for SWS Financial Services, now known as Hilltop Securities Independent Network, is named in the complaint
Are you applying the standard of care required for your clients?
It pays to understand any governance structures already in place to ensure they meet expectations for every type of client.
Historical timeline of fiduciary duty for financial advice
1934 Securities and Exchange Act SEC commission in 1934 The law…
Supreme Court nominee Merrick Garland part of judicial panel that struck down ‘Merrill Lynch rule’
Supreme Court nominee Merrick Garland issued a dissent in the 2007 ruling that struck down the so-called “Merrill…
House Speaker Paul Ryan becomes leading opponent of DOL fiduciary rule
House Speaker Paul Ryan has charged into the debate in the last few weeks with arguments echoing those of the financial industry.
