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Finra releases revised broker compensation proposal
Brokerages would have to send an 'educational communication' to investors outlining questions they should ask their broker about compensation and other inducements for switching firms.
Legislators eye strategies that could derail DOL fiduciary rule
Fiduciary legislation could be a part of Congressional negotiations to avoid a government shutdown.
Finra arbitration cases are down, but the rest of the year may tell another story
A former Finra director says wild market gyrations over the summer will induce cases that could take months to fully reveal themselves.
Massachusetts regulator charges securities firm with improper sale to elderly investor
Investor was sold aggressive investment strategies despite stating low tolerance for risk.
Senators ask Obama to speed up multistate insurance registry
The initiative, signed into law in January, can't get off the ground until the president nominates members to the registry's board.
Plan advisers need to take note of the SEC’s swing-pricing rule
Due diligence considerations that plan advisers should make when a fund has adopted swing pricing.
Broker claws back $1.2 million from Morgan Stanley in ‘significant’ promissory note case
Ex-Morgan Stanley broker now only has to pay about half of $2.9 million he was originally ordered to pay by Finra arbitrators.
Morgan Stanley hit with racial discrimination suit
As part of her claim, ex-broker alleges the wirehouse's recent move toward mandatory arbitration is an attempt to prohibit employees from publicly challenging unfair practices.
Industry, investor advocates clash on bond-price-transparency proposals
Rules proposed by Finra and MSRB would require brokers to detail the price differences they and the clients pay for corporate and municipal bonds.
12 predictions about what the Labor Department’s fiduciary rule will look like when implemented
Predictions on what the Labor Department's fiduciary rule will look like when implemented, and when that implementation might occur.
Former SEC chiefs press current regime to move on fiduciary
Pitt, Cox and Schapiro agree that putting client interests first should be a priority.
Hillary Clinton gives thumbs up to DOL fiduciary rule
In a proposal for financial reform released by her presidential campaign Thursday, the former secretary of state implicitly endorsed the Labor Department's proposal to increase standards for retirement advice.
Department of Labor’s lifetime income illustrations at a ‘crossroads’
A DOL official said the regulatory project around lifetime income projections has stalled due to a split in opinion.
Manager of a fake hedge fund faces real prison time
Breakfast with Benjamin: Security guard/waiter/travel agent posing as a hedge fund manager has been convicted of stealing more than $800,000 from 17 investors.
Advisers take heed: Investment crowdfunding coming soon to a client near you
Legion M offers hope for a Hollywood-level debut.
As robo-advice spreads, so should the caution warnings
Breakfast with Benjamin: As robo-advisers flood the zone, investors (and human financial advisers) should continue to proceed with caution.
A more reachable retirement savings target: 60% of pre-retirement income
Breakfast with Benjamin: Instead of needing 80% of your pre-retirement income, you can probably make it with 60%.
SEC’s fiduciary standard expected in October 2016
Five years after Dodd-Frank, agency puts issue on official calendar, signaling the rule is a priority.
The economic impact of global warming is heating up
Breakfast with Benjamin: According to the COP21 conference in Paris this week, global warming is on a pace to eventually hurt the economy.
Finra official says agency there to discipline, not punish
Finra says it is more interested in supervisory lapses, suitability issues with complex products and selling away than big-money fraud.
