End the ChFC vs. CFP War: An Open Letter to American College CEO Bob Johnson
The American College should reposition itself to support the emerging need for deeper post-CFP specializations and niche educational programs for financial advisors.
SEC's Bowden: Ethical Standards More Important Than Policy, Procedures
Advisory firms striving for compliance “can’t be effective by merely having policy and procedures, even if tested,” the exam chief said.
Fed's Dudley: Bad Bank Behavior Might Mean Breaking Up Big Banks
Federal Reserve Bank of New York President William Dudley said the government will have to consider breaking up large financial institutions if Wall Street doesn't stop excessive risk-taking and breaking the law.
Perez: DOL Continues Fiduciary Redraft Outreach
DOL wants to ‘understand with granularity’ stakeholders’ problems and concerns regarding the revised rule, the Labor secretary says.
SEC, FINRA Enforcement: HFT Firm Charged With Manipulating Closing Prices
In another action, FINRA slapped TD Ameritrade for a recordkeeping failure.
SEC Brought ‘Record’ 755 Enforcement Actions in 2014
The SEC filed a “record” 755 enforcement actions and obtained orders totaling $4.16 billion in penalties in fiscal 2014, the SEC says.
DOL Advisor Crackdown Is ‘Out of Control’: Benefits Lawyer
The DOL conducted more than 3,600 audits of qualified retirement plans last year. Settlements related to violations totaled $1.7 billion in plan reimbursements and fines.
New DOL Fiduciary Rule Will Hurt Retirees, Panelists Say
While consumer advocates favor compelling brokers to act in a client’s best interest, much of the financial lobby is dead-set against them.
Wells Fargo Compliance Officer Altered Doc After Insider Trader Slipped Through Cracks: SEC
Document was changed to cover mistakes in reviewing broker’s illegal Burger King trades, SEC says.
AIG Shareholders Still Want a Nicer Bailout
Why would anyone call Paulson, Geithner and Bernanke to testify on Delaware’s corporate governance standards for reverse stock splits? There's something else going on here.