Financial CHOICE Act faces long odds in Senate. Meanwhile, House and Senate Republicans introduce stand-alone legislation to scuttle the regulation.
Twenty-three year veteran Anthony Joseph Verzi decides not to testify during regulator's inquiry.
The fact that the impartial conduct standards are the sole requirement of BICE during the transition period speaks volumes to their importance to retirement advisers.
The concept of the rule has divided our industry in ways no one could have predicted.
A request for information sent yesterday to the Office of Management and Budget is the first step in reviewing the rule, Mr. Acosta said. <b>Plus, <a href="http://www.investmentnews.com/article/20170607/FREE/170609954/investment-adviser-association-members-take-complaints-about-dol" style="color:#b10816" target="_blank">Investment Adviser Association members take complaints about DOL rule to Capitol Hill</a>.</b>
The brokerage cites "additional flexibility" granted by the DOL in recent guidance as a determining factor.
The organization supports the underlying goals of the DOL rule, but thinks it should be "more appropriately tailored" to investment advisers.
The firm is cutting more than 1,500 funds that no longer meet its due diligence standards.
Agency says Utah broker-dealer failed to document suspicious microcap stock trades
The SEC extracted almost $3 billion in disgorgement payments in 2016.
Biggest concern is threat of excessive litigation due to best-interest contract exemption.
New SEC Chairman Jay Clayton makes request for comment on fiduciary duty one of his first actions, as DOL reasseses its measure.
The securities industry faces plenty of legal risks and compliance pitfalls following June 9, the official start date for the DOL fiduciary rule. <b>Plus,<a href="http://www.investmentnews.com/gallery/20170523/FREE/523009998/PH/dol-fiduciary-rule-what-you-need-to-know-about-acostas-decision" style="color:#b10816" target="_blank"> what you need to know from the DOL's latest FAQs</a>.</b>
Changes include level compensation on fixed annuities and unit investment trusts.
Sterne Agee fired James Holbrook, Jr. in May 2014 for allegedly misusing company assets and spending lavishly on perks.
If investors are frustrated now, just wait until the Trump DOL comes out with an overhaul of the rule later this year.
Commission seeks public comment on investment-advice standards; move suggests more coordination with Labor Department on fiduciary rule.
