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Securities America to pay another $1 million to Medical Capital Holdings investors in Massachusetts
The firm will make a final payment to investors who bought promissory notes issued by MedCap, a $1.7 billion Ponzi scheme sold mainly through independent broker-dealers.
Dodd-Frank reform may be put on back burner
President Trump did not mention it in his speech Tuesday, and a replacement bill is not getting the support it needs to make it through Congress
Piwowar blasts DOL fiduciary rule, says SEC should have ‘comprehensive discussion’ of advice standards
Acting Securities and Exchange Commission Chairman Michael Piwowar blasted the Department of Labor’s fiduciary rule and showed skepticism…
DOL proposes 60-day delay to fiduciary rule
There will be a 15-day comment period on the proposal to extend the applicability date of the rule, beginning from the time the proposal is published in the Federal Register, scheduled for Thursday. The proposal also invites a 45-day comment period regarding the "examination described in the President's Memorandum."
The Hartford wins excessive-fee lawsuit
The lawsuit is similar to ones filed against other insurance companies in recent years, which challenge the fee levels received by the firm versus a fund's subadvisers.
Advisers’ confidence in Trump soars after president’s address to Congress
After an erratic five weeks in office, Mr. Trump's speech makes him 'more presidential.'
Raymond James loses $762,000 penny stock arbitration claim
More than 20 claimants initially sought $8.8 million in damages and costs after a Morgan Keegan adviser allegedly misappropriated their funds.
Delay of DOL fiduciary rule likely to extend beyond 60 days
Agency will need more than two months to conduct assessment of regulation directed by President Trump.
OMB concludes review of measure delaying DOL fiduciary rule
In a posting on its website on Tuesday morning, the Office of Management and Budget also noted that it changed the designation of the delay to "economically significant."
Delay of DOL fiduciary rule faces new challenges
Office of Management and Budget designates the delay 'economically significant,' making it more difficult for DOL to justify stall.
Fate of fiduciary rule rides on regulators’ political savvy
Acting Securities and Exchange Commission Chairman Michael Piwowar outlines ways to help 'forgotten investor,' but fiduciary duty is conspicuously absent.
5 ways to build quality financial plans amid DOL fiduciary rule uncertainty
The firms and advisers that are able to embrace the shift from a sales culture to one comprised of goals-based planning will thrive.
More reps plan shift to fees post-DOL: Cerulli report
Nearly two-thirds (64%) of broker-dealer advisers plan to shift more of their business to a fee-based model if the Department of Labor's fiduciary rule is put into effect, according to a report from Cerulli Associates.
State, local auto-IRA initiatives benefit ‘forgotten’ workers
Automatic-enrollment IRA programs would encourage employees to save for retirement.
SEC’s Piwowar calls for expanding participation in private placements to help ‘forgotten investor’
Michael Piwowar says opening sales of private placements to ordinary investors would boost returns, portfolio diversification
Industry plaintiffs appeal Dallas court’s decision to uphold DOL fiduciary rule
Opponents of rule seek to overturn loss in district court.
Rising markets keep advisers out of arbitration
Finra experienced slight increase in 2016 cases, but total continues to be far below post-recession highs.
Minnesota judge denies Justice Department’s request for stay in DOL fiduciary rule lawsuit
A district court judge has denied the Justice Department’s request for a stay in one of the several…
Advocates push to delay DOL fiduciary rule delay; industry waits for likely stall
Only supporters of the DOL rule have met with Office of Management and Budget officials, while industry groups have kept their distance.
Purshe Kaplan Sterling to pay $3.4M in restitution for overcharging Native American tribe
Firm will also pay a $750,000 fine to Finra for failing to supervise broker who sold tribe non-traded REITs and BDCs.
