SEC Busts Firms in $79M Immigration Scheme
The SEC charged two firms with illegally brokering more than $79 million of investments from foreigners seeking U.S. residency through the government’s immigrant investor program.
Fiduciary Rule Crucial for Protecting Middle Class: DOL Chief
Labor Secretary Perez says DOL is sharpening its thinking on the fiduciary rule thanks to comments; FPA plans to weigh in in "very comprehensive" fashion.
For Elderly Fraud Victims, Biggest Toll Is Emotional
AICPA has some advice to help protect older clients who “just can’t say no to relatives.”
SEC to Scrutinize Retirement Advice
The SEC has launched a multiyear targeted review of investment advisors’ and BDs’ retirement planning sales practices.
Morgan Stanley, Scottrade Fined by FINRA for Failing to Detect Fraudulent Wire Transfers
The firms were alerted to gaps in their systems but went years without correcting them, FINRA says.
House Panel Votes for Deep Cut to IRS Budget
The funding bill includes provisions to stop the IRS from further implementing the individual mandate under the Affordable Care Act; SEC's budget stays flat.
36 BDs to Pay SEC $9M for Muni Bond Underwriting Failures
Raymond James, Merrill Lynch and Goldman Sachs were among the firms fined.
Older Americans Supporting Younger Generation, Not Vice Versa: EBRI
An overwhelming generational transfer of money is flowing from older adults to their younger adult relatives, EBRI found.
DOL Fiduciary Plan a ‘Big Government Scheme’: House Lawmaker
DOL’s latest fiduciary proposal "will lead to the same harmful consequences as the first and should suffer the same fate," says Rep. Phil Roe, R-Tenn.
House Bill Nixes DOL Fiduciary Rule’s Funding; Perez to Testify
A House Appropriations Committee bill released Tuesday prohibits any of DOL’s funds from being used to finalize, advance or enforce its fiduciary rulemaking.