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JP Morgan Chase puts off plan to move some clients to self-directed platform
As a result of the DOL fiduciary delay, the bank said customers could continue to use financial advisers as they had in the past.
Morgan Stanley reaches $1 million settlement with Massachusetts over high-pressure sales contest
The contest involved persuading customers to take out securities-based loans in which they borrowed against the value of their portfolios.
State insurance commissioners consider strengthening annuity sales rules
DOL fiduciary rule inspires questions about whether annuity transactions' current suitability standard is sufficient.
Advisers should heed fiduciary principles in ongoing Tibble 401(k) suit
Developments in the excessive-fee lawsuit highlight the duty to monitor investments and the duty of a prudent trustee to be cost-conscious.
Why the Senate should overturn state retirement rules
A state-level mandatory retirement plan will not solve the problem of Americans not saving.
More 401(k) advisers face litigation risk in June under DOL fiduciary rule
Certain provisions of the rule will kick in putting those affected advisers more squarely in the line of fire of the litigation enforcement mechanism of ERISA.
JPMorgan and former brokers reach $5.7 million settlement to end overtime pay dispute
The five-year class-action battle involved 1,056 former financial advisers.
Fake news! SEC warns that some investment research is a sham
Takes enforcement action against firms taking money to tout stocks.
Finra arbitrators add more detail to expungement decisions
Explanations for removing a complaint from a broker's record range from a couple paragraphs to several pages, but critics still worry about the impact to investors of wiping a slate clean.
BlackRock sued for alleged self-dealing in its 401(k) plan
The plaintiff takes issue with a so-called "layering scheme" in BlackRock's fund structure, whereby a fund's underlying proprietary investments charge additional fees that "cannibalize" returns for employees.
Finra updates sanction guidelines to address financial exploitation of clients
Disciplinary proceedings will determine whether a firm or an adviser exerted undue influence over "vulnerable individuals or individuals with diminished capacity."
Time for an in-depth look at regulatory duplication
Regulators should launch a full-scale investigation into how to avoid putting firms into double jeopardy.
5 regulatory issues every financial adviser should be watching
Sure, the delay of the DOL fiduciary rule is big news. But there are other important matters going on in Washington.
3(38) vs. 3(21) investment fiduciary services: the pros and cons for 401(k) advisers
As lawsuits targeting 401(k) plan sponsors have proliferated and buzz around the Department of Labor’s fiduciary rule…
Judge in Putnam 401(k) suit deals potential setback to plaintiffs using Vanguard as fee benchmark
The lawsuit is the first among similar cases to proceed to hearings on summary judgment, and may be telling as to how future judges rule.
Senate, House introduce bills mandating lifetime income disclosures for 401(k) plans
The bills are similar to ones introduced in the previous Congress, but failed to pass commitee.
SEC explores ways to strengthen compliance of independent advisers
The regulator sees difference in compliance levels between W-2 and affiliated advisers, says Peter Driscoll, acting director of the SEC's Office of Compliance Inspections and Examinations.
New Orleans appeals court denies emergency injunction to stop DOL fiduciary rule
Financial industry opponents continue their losing streak in court
‘Retirement Rip-Off Counter’ underscores impact of Department of Labor’s fiduciary rule delay
A counter adding up the $46 million retirement savers are losing daily from a delay of the Department…
RIAs say DOL rule delay doesn’t matter because industry is moving toward fiduciary anyway
Regardless of whether the fiduciary rule is ultimately repealed, advisers say it is becoming more popular among consumers.
