Results for "fiduciary"

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SEC advice rule: Industry, investor advocates split

June 14, 2018

A financial industry representative defended the Securities and Exchange Commission's proposed investment-advice reforms while investor and adviser advocates said that the changes wouldn't go far enough, as both sides appeared at an SEC Investor...

SEC proposal will curb brokers putting clients into products solely for highest revenue, Clayton says

June 13, 2018

Securities and Exchange Commission Chairman Jay Clayton said Wednesday that the agency's proposed investment-advice reforms would curb brokers' ability to recommend products that give them the most revenue. In response to a question from an...

SEC rule proposal doesn't include 401(k) sponsors in 'best interest' advice

June 13, 2018

The Securities and Exchange Commission is trying to bridge the gap in investment advice standards for brokers and financial advisers, but the rift remains wide in one particular area: advice to 401(k) plan sponsors. The SEC proposed Regulation...

SEC best-interest proposal doesn't affect 401(k) brokers

June 12, 2018

When it comes to big news, it doesn't get much bigger than the last few months. First, the 5th Circuit Court of Appeals threw out the Department of Labor fiduciary rule; then a month later, the Securities and Exchange Commission issued its best-interest...

SEC advice rule concerns raised by Schwab, AARP

June 12, 2018

Charles Schwab & Co. Inc. and AARP voiced concerns Tuesday about the Securities and Exchange Commission's proposal for new investment adviser and broker disclosures. Jeff Brown, Schwab senior vice president for legislative and regulatory affairs,...

Advisers encourage investors to take fiduciary into their own hands

June 8, 2018

As regulators struggle to reform investment advice rules, a group of advisers and investor advocates is encouraging clients to seek a higher standard on their own. With the Labor Department's fiduciary rule teetering on the brink of death and...

Focus on fiduciary boosts ETFs

June 7, 2018

Exchange-traded funds have been a quiet beneficiary of the increased focus on transparency and fiduciary responsibility, according to a panel presentation Wednesday at Pershing Advisor Solutions' annual Insite conference in Orlando, Fla. Dominic...

Fixed annuity sales set for massive spike

June 7, 2018

Fixed-rate deferred annuities are poised for a huge jump in sales over the next two years, as rising interest rates and a potentially faltering equity market push consumer money into the products at near-record levels, according to Limra, an...

Financial planners push to add restrictions on use of term in SEC advice proposal

June 7, 2018

Financial planners descended on Capitol Hill on Thursday to advocate for regulation that would specify which investment advisers can refer to themselves as planners. The Financial Planning Association sent 85 members to lobby lawmakers and their...

Advisers urged to resist 'fiduciary fatigue'

June 6, 2018

It's important that financial advisers resist "fiduciary fatigue" and continue to stay engaged in the long-running battle over investment advice reform regulations. "We still have an opportunity to shape the fiduciary landscape," said Robert...

Hurry up and kill the DOL fiduciary rule already, insurance groups tell 5th Circuit

June 6, 2018

Two insurance industry trade associations asked a federal court Wednesday to hurry up and kill the Labor Department's fiduciary duty rule. In a letter to the 5th U.S. Circuit Court of Appeals, the American Council of Life Insurers and the National...

Clayton promises 'not to take forever' on SEC advice rule

June 5, 2018

Securities and Exchange Commission chairman Jay Clayton said Tuesday the agency is "not going to take forever" to complete investment advice reform regulations, but declined to say whether he's willing to extend the comment deadline on the package....

New SEC nominee could become decisive vote on investment advice proposal

June 4, 2018

A Senate aide who is poised to become the newest member of the Securities and Exchange Commission could cast a decisive vote on the agency's investment advice proposal. Last Friday, the Trump administration nominated Elad Roisman, chief counsel...

The legacy of the DOL fiduciary rule: Almost gone, but never forgotten

June 2, 2018

Even as the Labor Department's​ fiduciary rule teeters on the edge of demise, its legacy will continue to profoundly influence how investment advice is delivered. The regulation's likely obituary will not be as heart-wrenching for its supporters...

Phyllis Borzi on DOL fiduciary rule: 'We forever changed the terms of the debate'

June 2, 2018

Phyllis Borzi is not mourning the death of the Labor Department's fiduciary rule. Rather, this "mother of the regulation" celebrates how the rule has illuminated the importance of strong investment-advice standards. "My staff did absolutely...

5th Circuit mandate to vacate DOL fiduciary rule 'still pending'

June 1, 2018

As death watches go, the vigil over the Labor Department's fiduciary rule has been a long one. Back on March 15, the 5th Circuit Court of Appeals struck down the regulation in a 2-1 decision. The Department of Justice, on behalf of the DOL,...

Interest groups split on delaying comments for SEC advice proposals

May 31, 2018

A major financial industry organization pushed back on Thursday against an effort by groups representing investors and investment advisers to extend the deadline for public input on the Securities and Exchange Commission's investment-advice...

How the SEC advice rule improves on the DOL fiduciary rule

May 29, 2018

The Department of Labor building is a mere 0.7 miles from the Securities and Exchange Commission. I've had meetings at both offices many times in the last three years. Some celebrate the 5th Circuit Court of Appeals' decision to vacate the fiduciary...

Piwowar defends SEC's best-interest rule

May 24, 2018

Outgoing Securities and Exchange commissioner Michael Piwowar had some tart words for his fellow regulators — and occasionally for the fund industry — at the Investment Company Institute's annual conference in Washington Thursday. Paul Schott...

Clayton: SEC left 'fiduciary' out of new advice rule to avoid investor confusion

May 23, 2018

Securities and Exchange Commission chairman Jay Clayton said the agency's proposal to raise investment-advice standards for brokers doesn't use the term "fiduciary" because it would have confused investors about the distinctions between brokers...

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