SIFMA, U.S. Chamber Barrage DOL as Fiduciary Rule Comment Deadline Looms
SIFMA, for its part, filed not just one comment letter but eight, along with two studies highlighting the fiduciary rule's challenges.
FINRA Blasts DOL’s Fiduciary Redraft as ‘Fractured, Confusing’
In its 21-page comment letter, FINRA tells DOL to modify its plan so that BDs do not abandon small accounts.
SEC Awards $3M to Whistleblower Who Helped Crack ‘Complex Fraud’
The whistleblower’s “specific and detailed information” laid out a scheme that would have been very difficult to detect, the SEC said.
DOL Fiduciary Redraft Will Be Changed, Top Official Says
DOL is ‘committed’ to fiduciary redraft but not ‘wedded to any particular’ wording or text, says DOL’s Hauser.
BDs Increasing Protection Against Cyber Breaches, Survey Finds
'Some firms have been the subject of benign incidents but haven’t realized it yet,' says Sutherland's Rubin.
Galvin Targets Alt Mutual Fund Sales With Exam Sweep
Massachusetts has subpoenaed state-registered advisors on their supervision, compliance and training regarding a host of alt funds.
Cybersecurity ‘Not Owned’ by Compliance but Shared: FINRA Exec
Cybersecurity is “an operational risk issue,” said FINRA’s Daniel Sibears.
Galvin Fines LPL $250K Over False Senior Designation Titles
Since mid-'07, LPL did not establish, maintain, or enforce a procedure to review senior-specific titles for compliance in Massachusetts.
IRS, Treasury Halt Buyouts of Retirees Getting a Pension
The Pension Rights Center applauds the move, calling the buyouts “among the most cynical and dangerous pension abuses we’ve seen.”
IRS, Treasury Close Alt Investment Tax Loophole
Sen. Ron Wyden applauds the move to "bring the hammer down on these basket options once and for all."