Paul Lebel, an LPL broker from 2008 to 2014, defrauded four customers by churning several of their accounts, according to the SEC.
Finra has permanently barred a former broker who was terminated by his former employer, Stifel, Nicolaus & Co., for making unauthorized payments to clients.
Plaintiffs claim Xerox took kickbacks from Financial Engines for including the managed-account provider on its record-keeping platform, breaching its fiduciary duty.
Many brokers and other financial firms have already changed compensation and other policies to align with the regulation. <b><i>(More: <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">The DOL rule, from all angles.</a>)</i></b>
From regulation to tax and entitlement reform, these are the central decisions that will affect financial planners and clients in the years to come.
Clients may choose fee-based or self-directed retirement accounts.
Telling advisers to never assume enough is enough when it comes to research.
The new president cannot simply rip up the regulation, which became effective in June. <b><i>(More: <a href="//www.investmentnews.com/article/20161110/BLOG12/161119996/leveraging-portfolios-to-take-advantage-of-donald-trumps-policies" target=""_blank"" rel="noopener noreferrer">Biotech, healthcare, banks and energy may benefit from Trump's policies</a>)</i></b>
Firms' compliance manuals and contracts will be scrutinized to ensure employee protection.
Plus: Five ETFs to help you prosper under the Trump administration, Dawn Bennett lands in more hot water, sending the media back to journalism school, and Happy Veterans Day
Regulation to raise investment advice standards for retirement accounts could be targeted by the new administration and the Republican-controlled Congress. <b><i>(More: <a href="//www.investmentnews.com/section/fiduciary-focus"" target=""_blank"" rel="noopener noreferrer">The most up-to-date information on the DOL fiduciary rule</a>)</i></b>
If Republicans were to win a repeal of the so-called death tax, contentious Treasury regulations on business valuation discounts would also disappear.
Move to fee-based IRAs gave consideration to SEC's view of other brokerage accounts at firm.
In the new administration, the regulatory agenda could be largely shaped by the officials she puts in charge of the agencies.
It shows Finra is carrying out its responsibility of regulating the industry and serving as the watchdog protecting the public.
Plus: A big warning from Pioneer Investments, ETF company revenues, and another bleak earnings season ahead
The Labor Department is coming off a big win, but will the judgment have legs in this appeal and the five other suits still pending against the regulation? <b><i>(More: <a href="//www.investmentnews.com/section/fiduciary-focus"" target=""_blank"" rel="noopener noreferrer">The most up-to-date information on the DOL rule</a>)</i></b>
Two industry leaders &mdash; Pershing Advisor Solutions CEO Mark Tibergien and Echelon Partners CEO Dan Seivert &mdash; disagree on what impact the regulation will have on the financial advice market.
When the United Kingdom implemented similar legislation a few years ago, about 40% of advisers simply left the business.
