Plan participant claims use of expensive proprietary funds cost employees millions in retirement savings.
Given the current regulatory environment and increasing utilization of BrokerCheck by the public, a broker must take ownership of his or her CRD.
The brokerage allegedly failed to file suspicious activity reports in a massive pump-and-dump scheme
The trade group for independent broker-dealers will take the offensive in trying to shape the kind of fiduciary standard it believes will be advantageous for its business in the future.
The self-regulatory organization is planning to investigate 100 to 200 brokers who pose the greatest risk to investors.
The North American Securities Administrators Association's model rule requires that financial advisers report suspected abuse to state and other authorities, allows them to stop disbursements from seniors' accounts and gives them protection from liability.
Trump administration could put regulation on hold while courts decide its legality
The DOL could propose a delay that would be subject to public comment, or the administration could issue an interim rule seeking delay based on "good cause."
Lobbyists say the move could come as soon as Friday afternoon, or Monday, in the form of a directive to acting agency heads to postpone and review regulations that aren't yet operational.
The brokers used an "in-and-out" scheme in roughly two dozen client accounts, which created "enormous losses," according to the SEC.
Allegations include receiving travel, prostitutes and drugs for steering business to two broker-dealers.
Letter to 33 companies asks six questions, including whether they support the delay or would reverse course on changes already implemented if a delay occurs.
It's not clear how President-elect Donald J. Trump's nominee for Treasury secretary, Steven Mnuchin, would approach the Treasury estate-tax rule.
The most surprising aspect of the second round of adviser FAQs is they concentrate on behaviors that will legally and appropriately circumvent fiduciary accountability.
Ms. White is departing the agency at noon on Friday, just as President-elect Donald Trump is sworn-in.
A Consumer Federation of America report says broker-dealers and trade groups claim they are advisers when marketing to the public but salesmen when fighting the DOL fiduciary rule in court.
If granted, the change would make it easier for some indexed annuity distributors to sell commission products under the Labor Department regulation.
Advicent's Naviplan software will broaden advisers' view of client financial picture.
Differentiating themselves from brokers would be easier now that debate has raised investor awareness of the role of a fiduciary
