Massachusetts may be just the first state to hold firms accountable.
The university was one of about a dozen prominent schools sued by Jerry Schlichter in 2016.
Rule should provide clarity on role of adviser, enhanced investor protection and regulatory coordination.
SEC Chairman Jay Clayton put a fiduciary-rule proposal at the top of the agency's rulemaking agenda on Friday, saying that the market needs "clarity" on the relationships between financial advisers and clients.
Agency hopes to overcome past divisions on investment advice standard.
Legislation by Rep. Richard Neal would require most small businesses to establish a retirement plan and automatically enroll employees.
Broker Lawrence Barber made unauthorized changes to client's account, state charged
Following fiduciary best practices strengthens client relationships and makes them more enduring.
Legislation requires brokers to act in the best interests of clients.
Uncertainty over the Labor Department rule, in addition to a potential SEC fiduciary regulation and others from the states, was a primary contributor to the industry's slide.
Plaintiffs warned the Fifth Circuit that Massachusetts' move against Scottrade signaled that the partially implemented regulation can raise costs for financial firms.
Says firm and broker Christopher Duke Bennett mishandled retirement accounts.
This isn't exactly an amnesty program, but it's probably the closest thing.
The bank did not properly disclose that it was steering asset-management customers into investments that would be profitable for JPMorgan Chase.
Experts expect more states to follow Massachusetts' lead.
Regulator scams, some using fake signatures of Finra executives, have been growing.
Following a change to the treatment of alimony, respondents said they expect divorce negotiations to become more acrimonious.
Client invested $20,000 in a real estate investment controlled by the broker, who later used the money for his own personal use.
Brokerage firms would no longer be able to charge reps for supervising nonaffiliated RIAs.
Action of Massachusetts' top regulator shows states can put teeth into a rule under review by the Trump administration.
