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Insurance industry wants DOL to telegraph changes to fiduciary
Proposal would require brokers working with IRAs and other retirement accounts to act in their clients' best interests, increasing the number of financial advisers who are deemed fiduciaries.
Perez calls out variable annuities in argument for DOL fiduciary rule
Using an anecdote critical of VAs, Thomas Perez says most people are better served by simple investments.
SEC exams target advisers’ retirement-saving guidance
Exams add scrutiny to an industry debating proposals that brokers act in client's best interests.
SEC approves rule requiring BrokerCheck links
SEC will require brokerages to include a 'readily apparent reference and hyperlink' to the database on home pages and broker profiles.
Finra fines Aegis Capital nearly $1 million over penny stock sales
Broker-dealer also agreed to pay $950,000 as part of a settlement with Finra over allegations of improper sales of unregistered penny stocks and anti-money-laundering supervisory lapses.
Ex-Oppenheimer brokerage chief settles with SEC in penny stock case
Former head of the private client group Robert Okin agrees to bar and $125,000 payment in settlement; branch manager and broker also accept penalties
Fidelity launches platform to connect plan sponsors, advisers and third-party fiduciaries
Third-Party Fiduciary Services charges a 3 bps fee to enable retirement plans and advisers to outsource their fiduciary responsibilities.
Adviser gets a rare win over the SEC in mutual fund case
Administrative law judge rules against the agency in closely watched case over disclosure of Fidelity payments for mutual fund sales.
Custodians’ payments to RIAs for fund picks raise eyebrows
Registered investment advisers like to promote themselves as being on the side of investors, but a growing number…
Momentum to defund DOL fiduciary rule seems unstoppable
But proponents look to the history of the fight to maintain optimism.
Senate joins House in effort to deny DOL fiduciary funding
Both chambers move to derail president's call for a best-interest standard for retirement accounts.
DOL Secretary Perez touts Wealthfront as paragon of low-cost, fiduciary advice
Holds up online-advice provider as exemplar of low-cost, fiduciary advice.
Finra arbitration panel awards $500,000 to former Morgan Stanley rep
Broker and wirehouse embroiled in a three-year dispute over a promissory note.
House committee cuts funding for DOL’s fiduciary rule
Legislation gives the Labor Department $1.4 billion less than requested
Regulatory burdens top adviser business concerns
Advisers also worry about attracting new clients in the future, survey shows
Royal Alliance to pay $1.4 million over nontraded REIT, VA sales
Award is tied to string of cases brought by retirees who said a broker placed them in unsuitable investments.
Ex-NFL player left out in the cold after $2 million award
A former Green Bay Packers starter is unlikely to recoup funds lost from Resource Horizons, a firm that's already racked up more than $4 million in unpaid damages. (More: 7 famous athletes who claimed they were duped by advisers)
Lawmakers consider lower tax rate for intellectual property housed in the U.S.
The idea — known as a patent box or innovation box — would help companies trying to maintain low tax rates they've achieved by booking income in overseas tax havens.
DOL fiduciary proposal feels heat as more industry players pile on
Great-West CEO Reynolds, Chamber of Commerce warn rule will hurt investors, advisers.
SEC warns advisers about outsourcing compliance
Exams have shown that outside compliance officers sometimes are left in the dark about firms' business practices and cannot articulate their risks.
