Regulation And Legislation

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Active ETFs produce few stars and even fewer fans
EQUITIES AUG 11, 2016
Active ETFs produce few stars and even fewer fans

Mutual fund firms move defensively toward active ETFs.

By Jeff Benjamin
ALTERNATIVES AUG 10, 2016
DOL fiduciary rule's unintended consequence: higher fees for investors

As broker-dealers move toward uniform commissions to comply with Labor Department rule, investors could end up paying higher prices than in an unregulated environment. <b><i>(More: <a href=&quot;http://www.investmentnews.com/section/fiduciary-focus&quot; target=&quot;_blank&quot;>The DOL rule from all angles</a>)</i></b>

By Bruce Kelly
DOL issues final rule to help states establish workplace retirement savings programs
RETIREMENT PLANNING AUG 10, 2016
DOL issues final rule to help states establish workplace retirement savings programs

State plans would not be subject to ERISA, which some in the industry fear will give them a leg up on private plans.

By Mark Schoeff Jr.
Finra bars former Independent Financial Group broker for failing to disclose trading accounts
PRACTICE MANAGEMENT AUG 10, 2016
Finra bars former Independent Financial Group broker for failing to disclose trading accounts

Brian James Egan agreed to be barred from the brokerage industry.

By Christine Idzelis
Finra fines Cetera $75,000 for records snafu
INDEPENDENT BROKER DEALERS AUG 10, 2016
Finra fines Cetera $75,000 for records snafu

Brokerage firm failed to notify customers of changes in their account records as a result of a computer coding error, regulator claims.

By Bloomberg
ALTERNATIVES AUG 10, 2016
Advisory group recommends SEC expand pool of accredited investors

Agency's Advisory Committee on Small and Emerging Companies wants people with a Series 7, 65 or 82, or a CFA, to be eligible to buy unregistered securities.

By Mark Schoeff Jr.
PRACTICE MANAGEMENT AUG 10, 2016
SEC fines advisory firm $300K for failing to disclose fees beyond 'wrap' charges

Case follows the SEC making wrap accounts an examination priority this year; agency is looking at whether advisers are acting in clients' best interests with these vehicles.

By Mark Schoeff Jr.
WIREHOUSES AUG 09, 2016
Two pro athletes win $819,000 arbitration award from Morgan Stanley

Ex-Morgan broker Aaron Parthemer put a pair of athletes in investments that later turned out to be worthless.

By Bruce Kelly
Trump as 'supreme ruler' and 'attractive'? Advisers react to long, historic speech
REGULATION AND LEGISLATION AUG 08, 2016
Trump as 'supreme ruler' and 'attractive'? Advisers react to long, historic speech

Republican presidential candidate's acceptance speech to the RNC makes big promises but offers little specifics on how he would cut taxes or reform regulations.

By Liz Skinner
Finra panel orders adviser to pay $333,000 to Morgan Stanley
PRACTICE MANAGEMENT AUG 04, 2016
Finra panel orders adviser to pay $333,000 to Morgan Stanley

Louis D. Dworsky was found in breach of promissory notes when he left the brokerage firm.

By Christine Idzelis
Four life insurers will pay $3.4M to settle probe over death benefits
LIFE INSURANCE AND ANNUITIES AUG 04, 2016
Four life insurers will pay $3.4M to settle probe over death benefits

The settlement was part of a broader crackdown by regulators in five states on insurers who allegedly failed to make death benefit payouts on a timely basis.

By Greg Iacurci
Former Merrill Edge adviser accused of misleading customers
PRACTICE MANAGEMENT AUG 04, 2016
Former Merrill Edge adviser accused of misleading customers

Finra said the adviser misled five IRA customers and then did not give an honest account of his actions.

By Bloomberg
Money managers with in-house 401(k) plan options at risk of employee lawsuits: lawyers
REGULATION AND LEGISLATION AUG 04, 2016
Money managers with in-house 401(k) plan options at risk of employee lawsuits: lawyers

There already have been several suits over high fees, and a second front may be emerging over plan options.

By Bruce Kelly
INDEPENDENT BROKER DEALERS AUG 04, 2016
MetLife penalty puts spotlight on bad variable annuity switches

Bad VA switches were supposed to be a thing of the past, but the independent broker-dealer industry should take heed of this fine.

By Bruce Kelly
RIAs must mind details when it comes to advertising
RIA NEWS AUG 03, 2016
RIAs must mind details when it comes to advertising

Failure to follow the applicable rules can turn into a public enforcement action.

By S. Brian Farmer and Brian J. Daly
Finra wants to up annual gift limit to $175
PRACTICE MANAGEMENT AUG 03, 2016
Finra wants to up annual gift limit to $175

Regulator seeking common-sense changes to gift and non-cash comp rules for members.

By Liz Skinner
Trouble looms for small RIAs in next bear market
RIA NEWS AUG 03, 2016
Trouble looms for small RIAs in next bear market

Firms reluctant to sell now may struggle later to find a merger partner to survive.

By Christine Idzelis
Already sizzling market for advisory firms could be stoked by DOL fiduciary rule
REGULATION AND LEGISLATION AUG 03, 2016
Already sizzling market for advisory firms could be stoked by DOL fiduciary rule

Deal flow and complexity on the rise when it comes to sales of adviser businesses.

By Liz Skinner
EQUITIES AUG 02, 2016
Reading between the lines of Friday's jobs report

Plus: Brexit bust, SEC nabs doc for insider trading, and double your retirement savings

By Jeff Benjamin
Brokerage groups' higher spending on lobbying doesn't kill DOL fiduciary rule
REGULATION AND LEGISLATION AUG 02, 2016
Brokerage groups' higher spending on lobbying doesn't kill DOL fiduciary rule

Despite heavily outspending investment adviser groups on lobbying lawmakers in the second quarter, industry trade associations didn't succeed in a key goal.

By Mark Schoeff Jr.