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State Farm hit with excessive fees suit over target date funds
Plaintiffs accuse firm of receiving almost half of the management fees while a sub-adviser did most of the work.
Rep. Ann Wagner gets three other House members to call on DOL to withdraw fiduciary proposal
Rep. Ann Wagner and three colleagues on the House Financial Services Committee are seeking additional signatories on letter to Labor Secretary Thomas Perez.
Sen. Warren attacks SEC chairwoman White’s leadership
Says top regulator is not pressing for admission of guilt in enforcements, and granting too many waivers.
China’s stock market freefall has only just begun
Breakfast with Benjamin China's stock market rout is being described as just the beginning, with some big moves still to come.
CFP Board hires new general counsel to oversee ethics, designation enforcement
Leo G. Rydzewski has been lead counsel in compensation-description litigation for the board, and in part replaces Michael Shaw, who left Dec. 12.
LPL and $775 million adviser part ways amid investigation
The broker-dealer and its top adviser in Louisiana cut ties after the adviser received a Wells notice announcing a Finra investigation. Adviser says the separation is unrelated.
Edward Jones to pay $20 million for bond overcharges
The Securities and Exchange Commission says the firm overcharged retail clients by at least $4.6 million on new municipal bond sales.
Prepare clients now for an extended period of abnormally low portfolio returns
The expectations many investors have baked into their financial plans for the future are based upon recent or historic gains.
‘Culture clash’ led to $2.5 billion Merrill firing: Lawyer
A $2.5 billion broker who was fired this month for “inappropriate workplace behavior,” according to employment records, may have been too bullheaded for the thundering herd, his attorney said.
LPL cracking down on brokers who collect retirement account fees from family members
Anticipating an enforcement push, the broker-dealer told brokers that next year they will no longer be able to receive a fee or commission from retirement accounts belonging to family members.
Lynn Tilton, Patriarch Partners lose round in battle against SEC’s in-house judges
"Wonder Woman of Wall Street" plans to appeal decision, seek expedited review.
LPL Financial CEO Mark Casady says firm close to finish line with fines and settlements
Chief executive Mark Casady says the firm has "couple things left to go" before enforcement actions resolved.
Liquidity restrictions haunt money-market funds
As investors hunt for yield and security, money-market fund managers detail their changes.
Crashing commodity prices will give the Fed one more reason to not raise rates
Breakfast with Benjamin: Crashing commodity prices are real, and the result might be another delay to the Fed's rate hike.
Securities class-action suits decline again as market volatility eases
Number of cases and size of firms involved continues to fall but that doesn't necessarily mean there is less fraud
Under regulatory pressure, Voya restricts sales of more variable annuities
Voya Financial Advisors has restricted sales of variable annuities for the second time in two months, as the brokerage firm faces increased pressure from regulators questioning the suitability of the products for retirement savers.
Camardas: None of the 70,000 CFPs are entitled to their day in court
Financial advice couple who sued CFP Board over use of the fee-only compensation label responds to U.S. District Judge Richard J. Leon's opinion, made public Tuesday, in the dismissed case.
Morgan Stanley ordered to pay $2.4M arbitration award over former broker’s trades
Broker Steven Mark Wyatt was accused of unauthorized and excessive stock-market trading during and after the 2008 financial crisis.
Camardas consider an appeal of dismissed CFP Board case
Other advisers dinged by fee-only compensation definition weigh in on judge's decision.
Judge throws out Camarda case against CFP Board
U.S. District Judge Richard J. Leon granted a motion for summary judgment and dismissed the controversial lawsuit against the CFP Board filed by Jeffrey and Kimberly Camarda involving use of the fee-only compensation label.
