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Don’t read too much into Obama ignoring DOL fiduciary in State of the Union address
President Barack Obama told the nation on Tuesday night that he wants American workers to carry their retirement savings with them wherever their career path leads. But he didn't mention what should happen if they take their savings to a financial adviser.
SEC questions require answers
The SEC must be more transparent about its new questionnaire. What is the ultimate purpose? What justification is there?
SEC exam questions dive deeply into retirement-account advice
Through its queries to financial advisers, the regulator is asserting its presence in an area normally associated with the Labor Department.
Levitt: Don’t let financial advisers off the hook
The Labor Department wants to update the fiduciary standard, raising the bar for any advice given by brokers. A change is long overdue, says the former SEC chairman.
MetLife in talks with MassMutual for possible sale of U.S. adviser unit
The life insurer eyes a possible sale of the company's U.S. adviser force as it reshapes its business mix to limit government oversight.
Attorney Schlichter preps new round of 401(k) suits
A pioneer in bringing lawsuits over retirement-plan fees is investigating several large plans, building on recent successes and a broader wave of litigation.
Attorney Jerry Schlichter brings another class-action 401(k) suit
Hot on the heels of some big victories, law firm Schlichter Bogard & Denton has filed a new complaint alleging fiduciary breach under ERISA.
Securitization makes a comeback
Breakfast with Benjamin: Securitization comes back and it's not all bad...Plus, how JPMorgan is positioned for rising rates, Deutsche Bank suspends currency traders, GM pays a dividend, and more minimum wage math.
The SEC has reduced the charges against SAC Capital’s Steve Cohen
Breakfast with Benjamin: SEC backs away from part of its charges, moving Steve Cohen a step closer to again managing outside capital.
SEC proposes rule to cap use of derivatives in mutual funds
Rule limiting fund leverage represents one of the most aggressive responses by regulators to risks exposed during the 2008 financial crisis
JPMorgan to pay more than $300M in settlement over wealth management conflicts
Allegations include that the bank didn't disclose its preference for putting clients' money into its own investment products.
Finra task force calls for higher arbitrator pay, greater transparency
Group also suggested a pool of arbitrators be trained to conduct expungement hearings, but didn't touch the mandatory aspect of arbitration.
Hillary Clinton takes up fiduciary mantle for financial advice industry
Presidential candidate Hilary Clinton directed Democrats in Congress to stop Republican lawmakers from adding language to a government spending bill that would effectively kill a pending DOL rule.
Boeing settles 401(k) suit for near-record $57 million
The large settlement underscores the need to ensure reasonable fees and asset classes for investments, and that the overall value of services matches up with cost.
SEC report revisits sting of unsolved Aug. 24 market slide
That date still leaves some ETF fans shaking in their boots. The report tells us what happened, but not why or what to do to prevent future recurrences.
Errors advisers should steer clear of when updating ADVs
SEC enforcement targets provide good examples of what to avoid in annual updates.
How brokers can navigate consolidation in the B-D industry
Advisers should take a deliberate approach to charting their future. Here's what to look for.
What we’ll remember about the markets in 2015
Some highs and lows, swings and misses
DOL fiduciary rule could decimate number of IBDs
Commonwealth Financial Network managing principal John Rooney says a combination of higher costs and less revenue, thanks to the DOL fiduciary rule, will cause widespread consolidation of independent broker-dealers.
Passive strategies put another mark in the win column in 2015
Plus: You ain't seen lame until you've seen Congress next year, money manager M&A peaks, avoiding financial fraud, and how the rich get and stay rich
