Regulation And Legislation

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Firms on the hook for hiring bad brokers
INDEPENDENT BROKER DEALERS JUN 12, 2016
Firms on the hook for hiring bad brokers

Sweep reminds broker-dealers they're going to be held accountable for hiring brokers who prove not fit to work in the industry.

By Andrew Leigh
RETIREMENT PLANNING JUN 12, 2016
DOL fiduciary rule can also be applied to insurance

Finding a policy that works in the best interests of your clients not as hard as you think

By Barry Flagg
Obama vetoes resolution against DOL fiduciary rule; court sets date for NAFA's lawsuit
REGULATION AND LEGISLATION JUN 10, 2016
Obama vetoes resolution against DOL fiduciary rule; court sets date for NAFA's lawsuit

Congressional threat to the Labor Department's retirement advice regulation gets nixed by White House, while D.C. court says it will hear a case against the rule.

By Mark Schoeff Jr.
Insurance groups ACLI and NAIFA sue DOL over fiduciary rule's impact on annuities
REGULATION AND LEGISLATION JUN 09, 2016
Insurance groups ACLI and NAIFA sue DOL over fiduciary rule's impact on annuities

Third legal complaint against the Labor Department's regulation to raise retirement advice standards is filed in a Texas court by insurance-industry organizations.

By Mark Schoeff Jr.
RIA NEWS JUN 09, 2016
The DOL fiduciary rule will forever change financial advice, and the industry has to adapt

The DOL fiduciary rule will forever change financial advice, and the industry now faces the challenge of adapting to the new regulation.

By Liz Skinner
With mergers poised to increase, are you ready for the next step?
INDEPENDENT BROKER DEALERS JUN 09, 2016
With mergers poised to increase, are you ready for the next step?

The mergers we may see as a by-product of the DOL rule are likely to be trickier — and more permanent — affiliations, and advisers will need to do their homework.

By Bloomberg
House Democrats sponsor bill for universal retirement coverage
RETIREMENT PLANNING JUN 08, 2016
House Democrats sponsor bill for universal retirement coverage

The legislation, which would automatically enroll employees without retirement-plan access, is a companion bill to one put forth in the Senate earlier this year.

By Greg Iacurci
PRACTICE MANAGEMENT JUN 08, 2016
Our legal challenge to the DOL: Making our voices heard in court

The Labor Department's determination to move ahead with the fiduciary rule in spite of others' grave misgivings has left us with no other choice than to bring this issue before a court of law.

By Dale Brown
Advisory firms should prep for DOL fiduciary rule while court challenges proceed
REGULATION AND LEGISLATION JUN 08, 2016
Advisory firms should prep for DOL fiduciary rule while court challenges proceed

Even those fighting the regulation say advisers need to start making business decisions to meet April 2017 implementation.

By Liz Skinner
TD's Skip Schweiss to RIAs: Don't shrug off DOL fiduciary rule
RETIREMENT PLANNING JUN 08, 2016
TD's Skip Schweiss to RIAs: Don't shrug off DOL fiduciary rule

Registered investment advisers can be held liable if they don't act in clients' 'sole interest' when it comes to retirement advice.

By Christine Idzelis
T. Rowe Price to pay out $194 million to shareholders in four mutual funds, other clients
MUTUAL FUNDS JUN 08, 2016
T. Rowe Price to pay out $194 million to shareholders in four mutual funds, other clients

Firm's moves stem from error it made in voting on the 2013 buyout of Dell.

By John Waggoner
PRACTICE MANAGEMENT JUN 08, 2016
DOL official cancels appearance at IRI following industry lawsuit

Deputy Assistant Secretary Timothy Hauser was scheduled to participate but abruptly backed out late last week, after the Insured Retirement Institute joined a lawsuit seeking to vacate the rule.

By Mark Schoeff Jr.
NAFA files second lawsuit against DOL fiduciary rule
RETIREMENT PLANNING JUN 08, 2016
NAFA files second lawsuit against DOL fiduciary rule

The National Association for Fixed Annuities levies similar arguments to the initial suit, filed just one day earlier.

By Greg Iacurci
Lawsuit against DOL fiduciary rule seen as 'weak' by some observers
RETIREMENT PLANNING JUN 08, 2016
Lawsuit against DOL fiduciary rule seen as 'weak' by some observers

Although the Labor Department doesn't have enforcement authority over IRAs, it does have interpretive authority, observers say.

By Greg Iacurci
FINTECH JUN 07, 2016
How software can help smooth the transition to fiduciary-rule compliance

If a firm's transition to the Best Interest Contract Exemption is done using paper contracts and disclosure forms, it could be costly, difficult and risky to manage.

By Carlos Guillen
Finra orders Oppenheimer & Co. to pay $2.9M for unsuitable sales of nontraditional ETFs
PRACTICE MANAGEMENT JUN 07, 2016
Finra orders Oppenheimer & Co. to pay $2.9M for unsuitable sales of nontraditional ETFs

More than 30,000 non-traditional ETF transactions, totaling approximately $1.7 billion, were carried out by Oppenheimer representatives, according to the regulator.

By Tanvi Acharya
Senators Elizabeth Warren and Mike Lee introduce bill to help graduate students save for retirement
RETIREMENT PLANNING JUN 06, 2016
Senators Elizabeth Warren and Mike Lee introduce bill to help graduate students save for retirement

Bipartisan legislation would make it possible for students to save funds from stipends or fellowships in an IRA.

By Greg Iacurci
Lawsuit could force delay to DOL fiduciary rule implementation
REGULATION AND LEGISLATION JUN 06, 2016
Lawsuit could force delay to DOL fiduciary rule implementation

Experts weigh plaintiffs' likely arguments versus Labor Department's legal standing and odds in court.

By Mark Schoeff Jr.
Two sides of the DOL fiduciary rule's 'Best Interest Contract Exemption' advisers must understand
RETIREMENT PLANNING JUN 06, 2016
Two sides of the DOL fiduciary rule's 'Best Interest Contract Exemption' advisers must understand

There are two different versions in the exemption, each with respective limitations and benefits that advisers and their institutions must master.

By Greg Iacurci
PRACTICE MANAGEMENT JUN 06, 2016
DOL official: Agency will consider changes to fiduciary rule if problems arise

Deputy assistant secretary Tim Hauser said the Labor Department has room to adjust the rule if problems arise.

By Mark Schoeff Jr.