California Suspends ‘Business Relationships’ With Wells Fargo
California is the largest municipal-bond issuer in the U.S. and has $75 billion in investments.
Wells Fargo Troubles Mount With Fine for Mishandling Soldiers’ Loans
DOJ is ready to sanction beleaguered bank over repossessions; OCC said to fine bank as much as $20 million over car seizures.
New Federal Law, SEC Scrutiny Triggers Clarification of Whistleblower Rights
Existing privacy regulations and common sense have led advisors to vigorously protect confidential information.
SEC Names Norberg Whistleblower Office Chief
Jane Norberg was named as the new chief for the SEC's Office of the Whistleblower, which she helped set up in 2011.
UBS Settles With SEC Over Sales of ‘Complex Products’
SEC says the wirehouse must repay 8,700 investors over $8 million and pay a fine for not reasonably training its advisors.
Nationwide Says DOL Rule Behind Jefferson National Deal
Nationwide said it struck a deal to buy the Louisville-based Jefferson National, a firm with about $4.7 billion in client assets.
Wells Fargo’s CEO Forfeits $41 Million in Fight to Keep Job
The clawback marks the biggest forfeiture of compensation from a major U.S. bank chief since at least the 2008 financial crisis.
IRS Warns of Obamacare ‘Tax Bill’ Fraud; Names Private Tax Collectors
Agency issues warning on fraudsters sending ACA ‘fake tax bills’ by email; reveals four private tax collectors under FAST Act.
DOL Fiduciary Has Many Advisors Mulling Career Change: Fidelity Survey
While 29% of advisors see a positive impact from the DOL rule, 28% say they are considering either retirement or a career change.
Ex-NYPD Chief Ray Kelly’s 4-Step Plan to Cybersecurity Preparedness
Kelly’s keynote speech at ALM’s cyberSecure explored the team and planning aspects of cybersecurity for business.