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Best interest standard must come with fiduciary teeth: Borzi
Former assistant secretary of labor says the best way to help investors is with a common advice rule.
SEC tests show investors don’t understand disclosure form for brokers, advisers
Investor advocates: Agency still has a lot of work to do on Form CRS
SEC panel votes to urge agency to strengthen advice rule proposal
The Investor Advisory Committee suggests clarifying that Regulation Best Interest is a fiduciary standard.
Here’s how a Democratic House will affect financial advisers
While the new majority is unlikely to block the SEC advice rule, retirement income advocates forecast momentum for annuities legislation.
Advocates hope reform of SEC advertising rule will ease advisers’ use of social media
The regulation hasn’t kept up with developments in the advice industry or technology, according to compliance experts
Former Next Financial broker settles charges he ran $3.9 million fraud
Douglas Simanksi told clients he would invest their money in a 'tax free' fixed-rate investment, SEC charges.
SEC requires broker-dealers to disclose more about client orders
Changes are designed to help investors understand how the B-D routes their order and how that affects execution quality.
SEC enforcement actions involving advisers jump in 2018
Agency reports 108 stand-alone enforcement actions involving investment advisers and companies, up 31.7%.
Former LPL broker sentenced to 20 years for stealing from clients
Sonya Camarco pleaded guilty to forging checks, depositing clients funds into her personal accounts.
CEO in Woodbridge Ponzi scheme fined $120 million by SEC
Robert Shapiro is settling claims he defrauded investors in a $1.2 billion real estate Ponzi.
SEC panel pushes strengthening Regulation Best Interest, in line with a fiduciary duty
The Investor Advisory Committee will vote Nov. 7 on suggesting the agency clarify, expand broker requirements.
SEC proposes variable annuity summary prospectus
Agency wants to improve investor knowledge, but consumer advocate says seven-page example included in proposal has similar weaknesses to Form CRS
IAA fears SEC will leave investor testing behind in rush to finalize advice rule
Schwab official agrees chairman Clayton wants to finish reform package soon, but says top regulator will face challenge finding three votes to pass it.
Answering ‘Is that an ETF?’ may get easier under plan put to SEC
Proposal would bar leveraged products from describing themselves as exchange-traded funds
State insurance commissioners draft annuity sales rule
But consumer advocate says proposal doesn't elevate standard beyond current suitability.
For first time, state regulators pursue more cases against RIAs than against broker-dealers
Growth of independent sector translates into more enforcement actions.
DOL likely to address fiduciary rule again next year
Agency to consider 'regulatory options' by September, same deadline for SEC's advice rule.
Can investment advisers disclose away all conflicts? Can brokers?
There's still disagreement over whether disclosure and informed client consent are enough to satisfy a fiduciary's obligation to act in the client's best interest.
SEC commissioner Stein suggests Congress address differing broker, adviser standards
She said lawmakers may have to change 'solely incidental' language that lets brokers give advice.
New Jersey releases uniform fiduciary standard pre-proposal, seeks comments
Document suggests the proposed SEC advice rule is too weak.
