Wells Fargo, LPL, Raymond James to Repay $30M to Charities, Retirement Plans
Wells Fargo, Raymond James and LPL failed to waive mutual fund sales charges that more than 50,000 accounts were entitled to, FINRA says.
Buddy Donohue, Back at SEC, Could Boost Chances of VA Summary Prospectus Rule
Former SEC Commissioner Troy Paredes says there's "opening for movement" on such a rule.
FSI Tells Lawmakers Why DOL Fiduciary Plan Is U.N.W.O.R.K.A.B.L.E.
FSI "fact sheet" uses each letter in the word "unworkable" to explain the current DOL redraft’s faults.
SEC Makes Its First Bust in New Data-Driven Push
Did a Wisconsin advisor cherry-pick profitable trades? SEC's simulation showed the odds that he had merely gotten lucky were less than one in a million.
DOL Fiduciary Foes Said to Be Writing Best-Interest Standard Bill
The Department of Labor’s plan to revamp the definition of fiduciary under ERISA is likely to face yet another legislative hurdle.
Defining ‘Best Interest’ Standard in Fiduciary Debate a Head Scratcher
Two industry trade groups and the Financial Industry Regulatory Authority came out recently with uniform best interest standards in an attempt to squelch what they say will be competing fiduciary plans to be issued by the Department of Labor and the Securities and Exchange Commission.
Familiar Face Returns to SEC as Two Commissioners Plan Exit
A familiar face with deep roots on Wall Street has returned to the Securities and Exchange Commission to help the agency draft its fiduciary rulemaking just as two agency commissioners are planning to exit.
MDs Need More Financial Literacy, Too
Constraints put in place under the Affordable Care Act are hitting doctors where it hurts—not only in their pockets, but also by creating red tape that stops them from finding time to become financially savvy.
SEC Suspends Advisory Firm's Ex-President for Failing to Heed CCO Pleas for Help
SEC says the firm, Pekin Singer, breached ethics rules by failing to place clients in a lower-cost share class of the Appleseed Fund it managed.
Expat Groups Rage Against FATCA, Election-Season Style
In a poll by deVere Group, nearly half of U.S. expats said they'd vote for a presidential candidate who promised to repeal FATCA.