FINRA to Increase Number of Public Arbitrators
The SEC has approved a FINRA rule to increase the number of arbitrators on the public arbitrator list from 10 to 15.
Wells Fargo to Keep Commission-Based Retirement Accounts
The bank outlines steps being taken to support "client choice" under the DOL fiduciary rule in a memo released Friday.
Raymond James’ Longtime Chairman to Give Up Post in Early 2017
CEO Paul Reilly will take on the role as Tom James becomes chairman emeritus of the independent broker-dealer.
PIMCO to Pay SEC Nearly $20M for Misleading Total Return ETF Investors
PIMCO didn’t tell investors that the initial surge by the fund—formerly managed by Bill Gross—was driven by a strategy that wasn’t sustainable, the SEC said.
Trump’s Choice of Bharara Sends Message: We’ll Bust Corporate Criminals
Ex-U.S. attorney John Wood believes Trump wants to hold the powerful accountable despite appointing several wealthy bankers to his administration.
Wells Fargo Splits Chairman, CEO Roles After Account Scandal
Wells Fargo joins Citigroup as the only other big U.S. bank that has two different execs serving as CEO and chairman.
Which Robo-Advisors Are Best? To Find Out, an RIA Invests in Them
Condor Capital, a New Jersey-based RIA, invested in about a dozen robo-advisors to measure their comparable performance.
DOL's Borzi: Rule or No Rule, There's No Going Back on Fiduciary
"I’m not going to conclude that this rule is going away" under the Trump administration, Borzi said at a Consumer Federation of America conference.
Betterment Signs Up 300-Plus Retirement Plan Clients in 2016
Benefiting from the DOL rule, Betterment for Business is reaching out to midsize firms in high tech and other emerging fields.
Star LPL Rep Charged With Annuities Fraud; Targeted Elderly
A client in her 80s with dementia and limited funds was sold an annuity with a seven-year surrender policy, Massachusetts regulators say.