Broker-dealers may take cue from Wall Street maneuvers as regulatory pressure builds.
Trend toward low-cost passive mutual funds will reduce margins.
The firm allegedly failed to provide about 2,700 customers waivers tied to upfront sale charges
While the system provides access to up-to-date and accurate information on an adviser's record, it also publishes mere accusations, convenient settlements and decades-old misdemeanors.
The agency is scrutinizing ETFs because of instances of sharp volatility, and has launched an initiative to evaluate how mutual funds can better inform investors about costs.
He will begin Aug. 15, at about the same time Robert Cook, a former division director at the SEC, takes over as chief executive.
Nearly three years after he was thrown out of the securities industry, the adviser has filed another appeal.
ERISA attorneys say the judge's decision was a complete rebuke of classic arguments in excessive-fee suits, and could provide fodder for the defense in future trials.
One attorney called the lawsuit an "attack" on the investment-management structure within variable annuities.
The plaintiffs argued that the company provided a money market fund instead of a stable value fund and paid excessive record-keeping fees to Vanguard Group, among other wrongdoings.
The wirehouse now joins a growing list of other financial-services companies sued for similar reasons.
The depth and breadth of the new DOL fiduciary rules requires all firms to consider outsourcing aspects of their practices and/or adding new technology.
The suit, not brought by Jerry Schlichter's law firm, could signal a 'race to the courthouse' in the university 403(b) market.
Attorneys, ever present in the 401(k) market, are beginning to target university 403(b) plans. These lawsuits follow close on the heels of ones against MIT, NYU and Yale.
Another financial services company has been targeted for costly proprietary investments in its 401(k) plan, leading to allegations of self-dealing at the expense of employees.
Allianz, Voya, Symetra and Lincoln Financial are forging ahead into virtually uncharted waters for product development.
The adviser boycotted her enforcement hearing, but that may not stop the regulator from throwing her out of the securities industry.
The insurer joins other financial services companies such as Ameriprise and Principal, who've detailed rising compliance costs associated with the regulation.
Treasury Department's proposed regulation aims to curb tax-planning approaches that lower the valuation of stakes in corporations or partnerships.
