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SEC appointment of in-house judges ‘likely unconstitutional’
U.S. district judge says regulator many not have authority to divert cases from regular courts.
Ramifications of Supreme Court decision on 401(k) fee lawsuit run deep
The court underscored the critical importance that persons entrusted with the assets of others cannot simply make the initial investment decision and walk away.
Ketchum tells lawmakers CARDS is on hold, not dead
Finra chief Richard Ketchum says the regulator has put its CARDS proposal on hold but hasn't given up on the plan despite heavy pushback from critics.
Bond math is about to inflict some real pain on fixed-income investors
Breakfast with Benjamin: Fixed-income investors are starting to feel the painful realities of bond math.
Insurance industry wants DOL to telegraph changes to fiduciary
Proposal would require brokers working with IRAs and other retirement accounts to act in their clients' best interests, increasing the number of financial advisers who are deemed fiduciaries.
Perez calls out variable annuities in argument for DOL fiduciary rule
Using an anecdote critical of VAs, Thomas Perez says most people are better served by simple investments.
SEC exams target advisers’ retirement-saving guidance
Exams add scrutiny to an industry debating proposals that brokers act in client's best interests.
SEC approves rule requiring BrokerCheck links
SEC will require brokerages to include a 'readily apparent reference and hyperlink' to the database on home pages and broker profiles.
Finra fines Aegis Capital nearly $1 million over penny stock sales
Broker-dealer also agreed to pay $950,000 as part of a settlement with Finra over allegations of improper sales of unregistered penny stocks and anti-money-laundering supervisory lapses.
Ex-Oppenheimer brokerage chief settles with SEC in penny stock case
Former head of the private client group Robert Okin agrees to bar and $125,000 payment in settlement; branch manager and broker also accept penalties
Fidelity launches platform to connect plan sponsors, advisers and third-party fiduciaries
Third-Party Fiduciary Services charges a 3 bps fee to enable retirement plans and advisers to outsource their fiduciary responsibilities.
Adviser gets a rare win over the SEC in mutual fund case
Administrative law judge rules against the agency in closely watched case over disclosure of Fidelity payments for mutual fund sales.
Custodians’ payments to RIAs for fund picks raise eyebrows
Registered investment advisers like to promote themselves as being on the side of investors, but a growing number…
Momentum to defund DOL fiduciary rule seems unstoppable
But proponents look to the history of the fight to maintain optimism.
Senate joins House in effort to deny DOL fiduciary funding
Both chambers move to derail president's call for a best-interest standard for retirement accounts.
DOL Secretary Perez touts Wealthfront as paragon of low-cost, fiduciary advice
Holds up online-advice provider as exemplar of low-cost, fiduciary advice.
Finra arbitration panel awards $500,000 to former Morgan Stanley rep
Broker and wirehouse embroiled in a three-year dispute over a promissory note.
House committee cuts funding for DOL’s fiduciary rule
Legislation gives the Labor Department $1.4 billion less than requested
Regulatory burdens top adviser business concerns
Advisers also worry about attracting new clients in the future, survey shows
Royal Alliance to pay $1.4 million over nontraded REIT, VA sales
Award is tied to string of cases brought by retirees who said a broker placed them in unsuitable investments.
