A former high-ranking executive testified that he repeatedly raised warnings of an accounting error at the real estate investment trust.
Mr. Lew, who served under the Obama administration from 2013 through the start of 2017, acknowledged the rule has "unintended consequences."
The plaintiff claims roughly 95% of investment options offered in the plan since 2011 were "unduly expensive" proprietary funds that led to less retirement savings for participants.
Outside business activities are a vital component of the value independent financial advisers offer to their clients and communities.
Many advisers are embracing an exemption they've frequently derided, even though a less-contentious one is available for annuity sales.
Highlighting 'fragmentation and overlap,' department suggests establishing one lead agency to align federal and state efforts.
Mr. Block last year pleaded not guilty to charges, including conspiracy and securities fraud, stemming from accounting at the REIT once controlled by Nicholas Schorsch.
The National Association of Insurance Commissioners is taking a fresh look at the suitability standard for annuities and considering making it a best-interests standard.
The Treasury Department urges federal agencies to re-write scores of regulations that bankers have frequently complained about in the seven years since the passage of the financial reform law.
Initiative is part of an effort to crack down on brokers who move from firm to firm and put investors at risk.
Plaintiffs alleged Merrill Lynch didn't apply fee discounts for mutual funds to which some small retirement plans were entitled.
The $16.75 million settlement comes after 10 years of litigation.
Kim Dee Isaacson also allegedly made unauthorized trades in the 71-year-old client's account.
While some give him high marks for his willingness to listen, other say it's time he put what he's heard into action.
As some provisions are implemented, the regulation's future remains a mystery. <i>(</i><b>More:</b><i>​ </i><i><b><a href="http://www.investmentnews.com/section/fiduciary-faq" style="color:#b10816" target="_blank">FAQs shed light on nuts and bolts of DOL rule</a></b></i><i>)</i>
Sheik F. Khan, formerly with Ameritas in Pasadena, Calif., misled private-deal investors.
Some wait for Trump to conclude review before telling clients about rule.
Firms have trimmed their lineups of investment products, leveled broker compensation and standardized compensation across product lines
<i>InvestmentNews</i> senior reporter Mark Schoeff Jr. gets the skinny on the next phase of the fiduciary rule's rollout.
The regulation will trigger a fiduciary acknowledgement from advisers. But, strangely, it's not a disclosure mandated by the rule itself.
