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Rep. Wagner drafts bill to kill DOL fiduciary rule, replace it with best-interest standard
Legislation would require brokers to 'avoid, disclose or otherwise reasonably manage' conflicts of interest.
DOL issues request for comment on fiduciary rule to guide review, possible revisions of measure
Agency sets 15-day deadline for input on delaying Jan. 1 applicability date and 30-day deadline for suggestions for substantive revisions.
Labor’s Alexander Acosta and SEC’s Jay Clayton tell lawmakers they will work together on fiduciary rule
In separate appearances before Senate panels, the regulators stressed the cooperation that Republican legislators and opponents of the DOL fiduciary rule are demanding.
Despite leaner budgets, SEC’s Clayton anticipates a 5% increase in adviser exams next year
SEC chairman acknowledged that tighter budgets would require increased efficiencies to meet examination goals.
RIA adviser gets two years in prison for cherry-picking trades
Michael Breton of Strategic Capital Management sentenced for $1.3 million fraud.
The fiduciary rule for retirement advice faces an uncertain future
Other states could move in to plug the fiduciary gap if the DOL and SEC devise a watered-down standard.
Supreme Court to consider role of Dodd-Frank provision in corporate whistle-blower case
An anti-retaliation provision in the 2010 Dodd-Frank law could insulate publicly traded companies from some whistle-blower lawsuits.
SEC budget request could make it harder for agency to increase adviser examinations
The SEC budget request for 2018 projects 1,044 full-time OCIE employees, down from 1,069 in fiscal 2017.
Brian Block’s $4 million bonus was tied to a key metric at ARCP
Prosecution rests case in fraud trial against CFO of American Realty Capital Properties.
SEC Chairman Jay Clayton says agency initiatives would help investors research advisers’ backgrounds
He doesn't provide details, but says that he shares SEC Investor Advisory Committee's desire to help older investors know their advisers
CFPs, including brokers, may have to adhere to a stricter fiduciary duty
CFP Board revises its standards and aims to beef up fiduciary requirements of certificants.
CFP Board’s proposal to expand fiduciary duty draws praise, carries risks
Some question whether brokers will drop the CFP mark or if the CFP Board will strictly enforce its new standard.
The case for a single fiduciary standard based on the Investment Advisers Act of 1940
A single standard would both protect investors and simplify regulation.
ARCP’s accounting takes center stage at Brian Block’s fraud trial
Former exec says he repeatedly warned of accounting mistakes in REIT financials
Hester Peirce likely to be nominated by Trump to SEC
She had originally been been selected by President Obama, but her nomination was stalled in the Senate.
Treasury calls on financial regulators to coordinate cybersecurity oversight
Highlighting 'fragmentation and overlap,' department suggests establishing one lead agency to align federal and state efforts.
Finra CEO Robert Cook promises to give brokerages more guidance on overseeing rogue brokers
Initiative is part of an effort to crack down on brokers who move from firm to firm and put investors at risk.
Finra CEO Robert Cook keeps low profile — for now
While some give him high marks for his willingness to listen, other say it's time he put what he's heard into action.
DOL fiduciary rule takes effect, but more uncertainty lies ahead
As some provisions are implemented, the regulation's future remains a mystery. (More: FAQs shed light on nuts and bolts of DOL rule)
SEC bars former Ameritas adviser after fraud trial finds him guilty
Sheik F. Khan, formerly with Ameritas in Pasadena, Calif., misled private-deal investors.
