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How financial advisers can operate in a world without trust
Fiduciary — ADJECTIVE. 1. involving trust, especially with regard to the relationship between a trustee and a beneficiary:…
Judging the presidential candidates by the CFP Board’s standards of conduct
This is the choice we all face on Nov. 8 — two flawed candidates — neither of whom represents the principles we aspire to ourselves.
Don’t discount public company disclosures in fiduciary process
Actionable disclosure information is central to fulfillment of fiduciary obligations and plays an important role in advancing the profession.
Thrivent Financial files sixth lawsuit against DOL fiduciary rule
Organization that provides financial services to Christians says it would not be able to use its dispute resolution mechanism if it had to adhere to the new regulation allowing class actions.
Deutsche Bank shares rise on report of $5.4 billion deal with Justice Department
Deutsche Bank AG jumped the most in almost six months after a media report that the lender is…
Attrition fears play into broker-dealers’ hesitation to detail new commission schedules under DOL fiduciary rule
Some brokerages know what their new annuity commissions will be in response to the regulation. Why are they staying quiet? (More: The top FAQs on the DOL fiduciary rule)
State regulators reveal top enforcement targets and the price they pay
Agencies brought more cases against registered advisers than unregistered entities, and certain products featured in many of them.
Adviser suspended for five years for overcharging clients
Texes securities commissioner claims Jens Pinkernell charged clients nearly $47,000 more than he should have over a three-year period.
SEC charges broker with fraudulently raising $3.2 million for his failing mutual funds
Peter Kohli, the CEO of DMS Advisors, allegedly stole money from investors as the funds neared collapse.
DOL fiduciary rule expected to put new pressure on mutual fund expenses
Some fund share classes could be on the way out, according to a new report from S&P Global Market Intelligence.
Fidelity’s eMoney introducing DOL fiduciary compliance functions for advisers
Software firm is boosting compliance functions of its financial planning platform. (More: The most up-to-date information on the DOL fiduciary rule)
More dark clouds loom over Wells Fargo
Plus: DOL rule puts advisers between clients and target-date funds, big dividend yields for those with a strong stomach, and companies lean toward auto-IRAs
SEC gets staff recommendation to allow third-party exams
Mary Jo White says the commission is reviewing a staff proposal and could vote to move ahead with independent audits.
Advisers may drop lower- and middle-income clients due to DOL fiduciary rule: NAIFA survey
The Department of Labor’s fiduciary rule may cause over half of the retirement financial advisers to give up…
Financial industry rhetoric riles DOL officials
Firms may be losing the battle against the Labor Department's fiduciary rule for retirement advice, but they are still framing the debate around it — to the agency's chagrin.
SEC charges duo in defrauding seniors and others in $20 million penny-stock scam
Former head of two microcaps worked with boiler room operator whose agents pressured investors and promised them lucrative profits.
Insurers cite broker-dealer annuity requirements as ‘big issue’ under DOL fiduciary rule
B-Ds and other annuity distributors are asking insurers for product specifications with an eye toward compliance with the new regulation.
Brokerages walking away from arbitration awards
Finra has been unable to find a way to ensure investors get paid what they are owed.
SEC’s courts still appear biased
Earlier this month, the U.S Court of Appeals upheld a Securities and Exchange Commission ruling against Raymond Lucia…
Federal court denies Ray ‘Buckets of Money’ Lucia’s appeal to SEC ban
The adviser and radio show host had challenged the right of the SEC to use administrative law judges to hear cases such as his.
