Firm will also pay a $750,000 fine to Finra for failing to supervise broker who sold tribe non-traded REITs and BDCs.
Brokerage, insurance and mutual fund groups spend more money than investment advisers in quest to gain the ear of lawmakers on both sides of the political aisle.
Brokers say commissions serve certain clients better, and investors who prefer them are pushing back.
The broker allegedly used the firm's parking garage stamp to validate parking garage tickets worth $731.
The rule is well past the tipping point, and the industry is forever changed regardless of the rule change.
Attorneys are seeking a stay in the lawsuit brought by Thrivent Financial pending the results of a rule review requested by the president.
The arbitrators found that UBS and UBS Puerto Rico were liable for $7.983 million in compensatory damages and $1 million in punitive damages.
In a roll-back of post-Madoff change, requests will go through acting division director, say sources.
Judge Daniel D. Crabtree granted summary judgment to DOL in a lawsuit filed by Market Synergy Group Inc., a Topeka insurance agency that develops fixed index annuities and other proprietary insurance products.
The firm allegedly engaged used an expensive proprietary fund to enrich itself at the expense of plan participants.
Plaintiff alleges plan participants would have paid at least $27 million less in fees if T. Rowe had selected cheaper, non-proprietary funds.
Putting together a new cost-benefit analysis could be tricky for DOL staff, who spent the last six years working on a regulation that already was assessed and has been upheld by three court decisions so far.
Andrew Puzder withdrew Wednesday as President Donald J. Trump's labor secretary nominee as controversy deepened over his personal life and private sector background.
SEC approves Finra regulation to curb financial exploitation, but requirements are slim.
State's Department of Business Oversight examined only 6.2% of state-registered investment advisers and 0.8% of broker-dealers in 2015-16.
Barred CEO Brian Keith Hardwick and firm ordered to pay $24.6M to investors
The wirehouse is settling charges related to single inverse ETF investments it recommended to advisory clients, many of whom experienced losses.
80-plus firms ready to help advisers decide where to spend their tech budgets
