The claimants alleged the Connecticut investment bank negligently supervised its broker.
The DOL is expected to prepare an updated economic and legal analysis concerning the likely impact of the rule.
The chairman of the House Rules Committee said in a letter that the rule would foist “mountains of paperwork” on financial planners while denying “access to quality investment advice” to millions of investors.
Some experts anticipate the Trump administration will abandon the legal fight, but that hasn't happened yet.
The record keeper joins three others — Fidelity, Voya and Xerox — in being sued over its relationship with the advice provider.
Speculation is mounting as to what is taking the administration so long to act. Is President Trump waiting for his DOL secretary nominee to be approved? Or is he finding it harder to repeal than expected?
Lobbying group for independent broker-dealers lays out its annual agenda
Size of award called "extraordinarily rare" by one securities attorney. <i><b>(More: <a href="//www.investmentnews.com/article/20160923/FREE/160929957/brokerages-walking-away-from-arbitration-awards"" target=""_blank"" rel="noopener noreferrer">Brokerages walking away from arbitration awards</a>)</i></b>
Calling it a "disaster," he claimed it has been responsible for cutting off loans to small businesses.
Data analytics could help them more easily uncover breaches of suitability in investment product sales.
Markets have risen since the president was elected, but his personality makes it difficult to discern when he is serious and when he is beating his drum for effect.
Not every adviser can be nominated for a Bully, just those who displayed a complete disconnect from their ethics in the course of impersonating a client or some big shot.
Insurers are speeding up their closures of L-share products as regulators crack down, but are quickly introducing new fee-based contracts.
Donald Trump has proved he can move stock prices on a whim, but it's his stance on trade that might be of greater importance to investors.
New Fidelity report calculates 104 deals last year compared to 138 in 2015, partially due to growing gaps between what buyers are willing to pay and what sellers are seeking.
The firm will make “many” of the pricing and product design changes it planned last year, according to a memo sent to employees.
Ms. Warren said she received a “page not found” error this week when she tried to access a site set up to track complaints from the bank's employees.
Regulator should assess whether requirements on the books &mdash; including for advertising, custody &mdash; are working, and just generally slow down, according to advocates for the profession and industry.
Michael J. Breton allegedly cost clients $1.3 million by placing trades through a master brokerage account and then allocating profitable trades to himself while placing unprofitable ones into client accounts.
From 2000 until 2015, Citigroup overcharged about 60,000 advisory client accounts and was unable to locate another 83,000 client contracts that were opened between 1990 and 2012.
