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Finra official says agency there to discipline, not punish
Finra says it is more interested in supervisory lapses, suitability issues with complex products and selling away than big-money fraud.
DOL’s fiduciary exemption is not a workable option for advisers
Too complex and cumbersome, provision would exclude investments such as alternatives from list of options.
SEC taking deep dive into role of ETFs in Aug. 24 market drop
Breakfast with Benjamin: SEC chairwoman Mary Jo White says the agency is taking a hard look at ETFs' role on Aug. 24, when stocks dropped like a rock, and the agency's trading rules are part of the scrutiny.
Women lawmakers play an outsized role in policymaking that affects advisers
Percentage of women in Congress similar to their proportion in the advice sector, with plenty of room to grow
Time for Congress to act on elder abuse
Senior$afe Act seems like a win-win for financial advisers and their elder clients.
Finra’s Susan Axelrod: Finding a job you love is what matters
My professional life started on Wall Street — a male-dominated environment that has evolved a lot over the…
Nicholas Schorsch’s RCAP gets scorched on multiple fronts
Less than two years ago, Nicholas Schorsch compared RCS Capital Corp., the brokerage holding company he founded, to…
DOL, industry spar over cost estimates for fiduciary rule
Perez defends White House study, while SIFMA and ICI attack it.
NAPFA leader claims ‘moral high ground’ in fiduciary fight
Organization wants to strengthen its lobbying punch to counter the likes of NAIFA and others that oppose a clients' best interests rule.
Financial markets brace for fallout from the Paris terror attacks
Breakfast with Benjamin: The financial markets are likely to be swept up in the immediate unrest following Friday's terror attacks in Paris.
Calpers makes another move away from pricey investments by trimming real estate exposure
Breakfast with Benjamin: Nation's largest public pension fund trims its real estate holdings with a $3B sale.
Wake-up call for RIAs: It’s time to fix exams before it’s too late
Fix the exam frequency issue before investors are harmed, the reputation of the RIA industry is tarnished and Washington imposes a solution not of our choosing
DOL fiduciary rule could hurt nontraded REIT sales: LPL’s Casady
LPL CEO Casady says that as written, rule would bar sales of certain alternative investments in brokerage retirement accounts. (See also: Democratic senators split from White House on DOL fiduciary rule)
DOL pushes back on legislation to kill fiduciary
While bipartisan group frets over 'unintended negative consequences,' Labor Department says bill would establish best-interest standard 'in name only.'
House members poised to introduce bill to replace DOL fiduciary rule
Lawmakers released what they called “legislative principles” for retirement advisers, including acting in clients' best interests.
House committee approves easing accredited-investor standard
The House Financial Services Committee overwhelmingly approved legislation that would ease restrictions on the kind of investors who can purchase unregistered securities.
Massachusetts’ Galvin charges Realty Capital Securities with proxy vote fraud
Massachusetts securities cop alleges the firm, part of RCS Capital Corp., fraudulently rounded up proxy votes to support real estate deals sponsored by Nicholas Schorsch's AR Capital.
NBA’s Tim Duncan files a second lawsuit against his financial adviser
Breakfast with Benjamin: The NBA star is claiming to have lost $1.1M by being invested in a bankrupt cosmetics company.
Bill Gross may have opened the door for another investor suing Pimco
Deep in Janus manager's claim is tidbit about fees at Pimco Total Return, the subject of an existing lawsuit.
SEC’s Gallagher says agency unfairly cracks down on compliance officers
Commissioner says the agency's recent actions targeting chief compliance officers sends 'troubling message' that leaves them unsure of the extent of their responsibility, especially CCOs at small firms.
