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Opposition to ESG might just be getting started
Some politicians see it as part of a viable platform for the 2024 presidential election.
SECURE 2.0 provides breathing room for RMDs
In addition to raising the age at which individuals must start taking required minimum distributions, the SECURE 2.0 Act also lowers the penalty for not taking an RMD.
Whose clients are they, anyway?
Perhaps the reality is that neither firms nor advisors truly 'own' clients but rather are lessees of clients.
Republican bill would end the DOL ESG rule
The effort, the latest in an overall anti-ESG push from conservatives, is largely symbolic.
Website helps investors cut through regulatory thicket to find advisors
As it enters its fifth year, Investor.com has been redesigned to make it easier for investors to digest a financial firm's disciplinary history and conflicts.
Finra arbitrators order Raymond James, rep to pay nearly $20 million in raiding case
Wells Fargo alleged that a 'coordinated' effort to lure away advisors depleted an Arkansas branch office, forcing it to close.
Finra fines, suspends two brokers for Reg BI violations
The self-regulator claimed the reps traded excessively in the accounts of elderly customers.
JPMorgan asks judge to throw out lawsuit over Jeffrey Epstein
U.S. Virgin Islands claims the bank turned a blind eye to Epstein sex-trafficking, calling the allegation a 'masterclass in deflection.'
Brokerages need to update tech systems to show Reg BI work to SEC
An SEC risk alert this week warned firms that surveillance systems fell short in ensuring reps consider costs and reasonably available alternatives. Will enforcement be next?
Inside the mind of the SEC
Last year, the agency managed to examine about 16% of all advisors, but it aims to do more exams in 2023.
Legislation lets funds delay redemptions if transfer involves senior abuse
The bill sails through House, 419-0, on a fast track. Its author, Rep. Ann Wagner, R-Mo., hopes the Senate acts this time around.
DOL’s ESG rule hit with long-shot lawsuit
A legal challenge to the agency's rule on investments in retirement plans was inevitable, lawyers say.
Expatriate advisor finds a home and client base in France
Robert Levitt has traded Florida for the French Riviera, where he sees a wide-open market in the 250,000 Americans living there who need financial advice.
SEC staff finds B-Ds lack policies needed to comply with Reg BI
Broker-dealers are falling short in identifying and mitigating conflicts of interest, the agency said.
Finra bars ex-UBS broker in Texas who sold phony annuities
According to Robert Earl Turner's BrokerCheck profile, UBS has settled six disputes with his customers for close to $12 million.
Advisors skeptical about replacing income tax with national sales tax
The House Republican bill is likely to hit a wall in the Democratic-majority Senate. There might be a better chance to extend some 2017 tax cuts set to expire in 2025,
More advisors are jumping on the bitcoin bandwagon
With the cryptocurrency's price up 40% so far this year, a new report shows a doggedly bullish outlook among investors and advisors willing to look past extreme volatility.
Advisor Group firms settle with Finra over 529 plan rollovers
According to Finra, the broker-dealers fell short in giving some clients breaks when rolling over 529 plans from one state to another.
FPA takes CFP Board at its word that it won’t crowd onto association’s turf
The CFP Board's decision to split itself into two nonprofits would allow it to establish a membership organization, but groups like FPA don't expect it to do so.
Morgan Stanley fines bankers over $1 million each for using unapproved messaging platforms
The firm is the latest bank to require individual staff to bear some of the burden of an unprecedented regulatory investigation.