Barred Broker Pleads Guilty to SEC Obstruction, May Avoid Jail
The former advisor will also pay more than $580,000 in penalties for hiding referral fees from an elderly widow.
Trump Must Fire CFPB’s Cordray: Republican Senators
Two Republican senators, citing the CFPB’s “unconstitutional structure,” ask President-elect Trump to fire Director Richard Cordray.
State Crackdown on Annuities Sharpens Suitability Issues for Advisors
As states crack down on suitability review issues, an advisor’s ability to determine which annuity product is advisable has never been more important.
John Hancock Uses NextCapital to Bring Robo-Advice to Its Retirement Savers
The partnership will bring “nonconflicted, personalized advice” to John Hancock’s 2.7 million retirement clients, says NextCapital’s Rob Foregger.
SEC Issues Churning Alert, Then Charges Brokers in Scheme
Brokers performed no reasonable diligence on whether their investment strategy could deliver even a minimal profit for their customers.
SIFMA Recommends Full-Market Close on MLK Day
The move would cover government securities, muni bonds and other products.
Wells Fargo, Black Brokers Settle Discrimination Suit for $35.5M
The class-action suit aims to prevent discrimination and support the participation of African American advisors.
Congress Gets Rolling on Trump Cabinet Confirmations
While the SEC still has two commissioner seats to fill, Democratic Commissioner Kara Stein's term is up in June.
Dodd-Frank Critic to Chair House Financial Institutions Panel
Rep. Blaine Luetkemeyer was a cosponsor of the Financial CHOICE Act during the last Congress.
Congressman Introduces Bill to Delay DOL Fiduciary Rule
The bill would delay the rule's implementation by two years.