Northern Trust Hires Ex-Mercer Exec, Behavioral Finance Expert
Northern Trust Asset Management has hired former Mercer and World Bank executives to help build out its retirement solutions business.
Government Shutdown Fight May Hinge on Planned Parenthood
Looming fiscal deadlines will spark “intense drama and brinkmanship,” says PIMCO's Cantrill.
SEC Finds Shady Practices in BDs' Structured Product Sales
Examiners found suitability violations including heavy sales to customers who were elderly, didn't speak English or had a conservative investment objective.
FinCEN Floats Long-Awaited AML Rule for Advisors
Treasury's enforcement unit proposed Tuesday a rule requiring certain advisors to establish anti-money laundering programs and report suspicious activity under the Bank Secrecy Act.
Schwab Hit With $2M FINRA Fine Over Net Capital Deficiencies
On three occasions in 2014, Schwab was short on net capital by as much as $775 million.
Mercer’s Conaway Replaces Salisbury as EBRI Chief
"EBRI has the capacity to shatter myths and preconceptions" with its "unparalleled reputation, databases and talented research team," Conaway said.
Arthur Levitt: SEC Deadlocked on Fiduciary, Advisors Need DOL Rule
As the Investment Advisers Act turns 75, ex-SEC Chairman Arthur Levitt, CFA’s Barbara Roper and more discuss why the industry needs a strong fiduciary standard.
Citigroup in Hot Water Again With SEC, NY Attorney General
Citigroup Global Markets must pay the SEC a $15 million penalty for failing to supervise trades and repay New York customers for investment fee overcharges.
FINRA Sweeping BDs on Comp Practices
Recruiter Jon Henschen says FINRA treats BDs like "moonshiners," made to pay "extortion money" in the form of fines for breaking ever-more convoluted rules.
DOL Fiduciary Rule Will Cost Firms $3.9 Billion: FSI Study
Projected startup costs range from $1.1 million to $16.3 million per firm, according to a study by FSI and Oxford Economics.