Blackstone Group to Pay SEC $39M Over Fee Arrangements
Blackstone failed to adequately disclose the acceleration of monitoring fees paid by fund-owned portfolio companies prior to the companies’ sale or IPO.
December Rate Hike Could Be Thwarted by Government Shutdown: Valliere
“I’m very apprehensive about December,” says Greg Valliere, who's now chief global strategist for Horizon Investments.
GOP Lawmakers Press DOL to Reissue Amended Fiduciary Rule
GOP to Perez: “We strongly urge you to provide stakeholders with an opportunity to review the changes” before the rule advances to OMB.
SEC Needs to Move on Fiduciary Rule, Ex-SEC Chiefs Say
At TD Ameritrade Advocacy Leadership event, ex-SEC Chairwoman Mary Schapiro said, “I feel very strongly the SEC needs to move forward” now on fiduciary.
Why SEC Is Cracking Down on 12b-1 Fees and ‘Distribution-in-Guise’
Once again, the SEC provides "guidance" to advisors in the form of an enforcement action, this time a $40 million judgment against First Eagle.
SEC Enforcement: Advisor Pushed Risky Investments in Firms He Owned
Meanwhile, the SEC fined 22 underwriting firms for muni bond fraud.
Wagner Bill Halting DOL Fiduciary Rule Passes House Panel
Meanwhile, Brookings economist Robert Litan resigned after Sen. Elizabeth Warren questioned him about the sponsor of a study that panned the proposed rule.
NASAA Gets New President, Floats Elder Financial Abuse Rule
Like a rule proposed recently by FINRA, NASAA's plan allows BDs and advisors to delay disbursement of funds when financial exploitation against seniors is suspected.
How Fiduciary Rule Will Change Advisor Business: AIG Advisor Group Panel
FSI's Dale Brown joined other experts at the ConnectED conference in San Antonio to address the practicalities of DOL's fiduciary rule.
FINRA, SEC Wallop UBS Puerto Rico With $33.5M in Penalties Over Closed-End Funds
Company failed to ensure suitability for clients of Puerto Rican CEFs that were highly invested in Puerto Rican municipal bonds; branch manager and rep charged.