SEC’s Aguilar to Leave by Year End
SEC Commissioner Luis Aguilar announced that he will be leaving his post by the end of December.
DOL Releases Proposal, Guidance on State-Run Retirement Plans
DOL released a proposed rule and interpretive bulletin to help guide states in developing state-run retirement plans.
Scottrade to Pay $2.6M FINRA Fine Over Email Retention Failures
Scottrade failed to adhere to federal securities and FINRA rules under the 'Write-Once, Read-Many' or WORM format
Slim Chance to Stop DOL Fiduciary Rule, but Brokers Must Keep Fighting: Rep. Mulvaney
Mulvaney told Commonwealth reps to tell senators that “we will no longer be able to serve middle-class people who need us the most.”
CFPB Releases Social Security Claiming Tool
Most retirees make Social Security claiming decisions based on "limited and incorrect information," and many take benefits too soon, CFPB says.
BrokerCheck Can Help Predict Investor Harm, FINRA Study Finds
The BrokerCheck database is a “significant” predictor of brokers who may ultimately do investors wrong, two FINRA chief economists say.
3 Emerging Cyber Threats to Watch in 2016: SIFMA
The cybersecurity landscape is “worsening,” said Morgan Stanley’s chief information officer at SIFMA’s annual meeting.
SEC ‘Flat-Out Doing’ a Fiduciary Rule: Chief White
SEC must calibrate a fiduciary rule carefully, Chairwoman Mary Jo White said, so it "does not have unintended consequences."
Outsourcing Compliance Officer Role Can Be Rife With Risk: SEC
SEC exam division urges advisors employing outside compliance providers to be especially mindful of their obligations under the SEC’s compliance rules.
Treasury’s AML Plan for Advisors Needs Big Changes: IAA
IAA says FinCEN's plan is based on a "fundamental misunderstanding" of the services advisors provide.