The regulator cited a broad breakdown with the firm's failures to supervise client and adviser information.
New T shares would feature a uniform 2.5% front-end load and a 0.25% trailing 12-b(1) fee.
Copycat lawsuits targeting 403(b) plans, as well as litigation probing a fiduciary's duty to monitor investments, the DOL fiduciary rule, church retirement plans and cybersecurity issues are likely to crop up this year.
Ms. Yang would be the second consecutive former federal prosecutor to lead the regulator, and, like current chairwoman Mary Jo White, would likely focus more on enforcement than policy making.
Financial advisers are feeling heightened pressure from regulators and clients, Natixis finds.
Benchmarking tool will help advisers show reasonable compensation, firm says.
Bills to expand the pool of investors eligible to buy unregistered securities, make it easier to put annuities in 401(k)s and stop a Treasury Department rule changing estate valuations are likely to be revived.
The group of six brokers are joined by 325 confirmed African American brokers or trainees at the firm. There could be another potential 200 class members.
John Napolitano's U.S. Wealth Management to be acquired by IHT over five years
Arbitrators held Southwest Securities Inc. liable for compensatory damages and recommended expungement of the termination explanation on the rep's Form U-5.
Plaintiffs claim excessive fund fees cost participants roughly $20 million, while high record-keeping fees cost them an additional $9 million.
Federal prosecutors say the hedge fund's industry-beating returns were based on lies.
The pair are accused of artificially moving prices of lightly traded stocks, via 23,000 trades over a two-year period. <b><i>(More: <a href="//www.investmentnews.com/article/20161011/FREE/161019981/sec-sets-record-in-enforcement-actions-against-investment-advisers" target=""_blank"" rel="noopener noreferrer"> SEC sets record in enforcement actions against investment advisers </a>)</i></b>
Court of Appeals rules judges are unconstitutional because they were hired rather than appointed. <i><b>(More: <a href="//www.investmentnews.com/article/20160710/FREE/160709954/the-secs-case-against-dawn-j-bennett" target=""_blank"" rel="noopener noreferrer">The SEC's case against Dawn J. Bennett </a>)</i></b>
Because employee carelessness is a leading factor in internet troubles, advisory firms should offer regular training on best practices, experts say.
The opinion vacated the Los Angeles District Court's ruling that the case could not proceed because of a statute of limitations on three of six funds in question.
The regulation is similar to one issued in August around state retirement programs.
The rule could ultimately be killed or replaced, but only one course of action by firms provides certainty.
Regulator brought broad, sweeping cases and also ramped up its crackdown on smaller infractions during Mr. Bennett's six-year tenure. <b><i>(Related read: <a href="//www.investmentnews.com/article/20161006/FREE/161009948/advisers-want-finra-to-focus-on-the-bad-guys-and-leave-the-rest-alone"" target=""_blank"" rel="noopener noreferrer">Advisers want Finra to focus on the 'bad guys' and leave the rest alone</a>)</b></i>
