Don Trone: Father of Fiduciary—The 2015 IA 35 for 35
Don Trone’s transition from Coast Guard helicopter pilot to a fiduciary leader was a personal one: “A mortgage broker took advantage of me and I hated the feeling. I reported the incident to the regulators and they did nothing.”
Taxpayers’ Private Data Stolen From IRS Website
Identity thieves hack information of 104,000 taxpayers and net $50 million in fake refunds.
FINRA’s Ketchum Blasts DOL Fiduciary Plan; White House Says ‘Work With Us’
FINRA CEO Richard Ketchum talked at the regulator's conference about what's wrong with the DOL plan and offered an alternative approach to putting customers first.
What Firms Claim About Their Brokers’ Fiduciary Duty (and Lack Thereof)
Broker-dealers publicly market themselves as putting their clients first. But when it comes to arbitration cases, they sing a different tune.
3 Reasons to Avoid an IRA Rollover
Ahead of DOL’s final fiduciary plan, advisors need to brush up on the technical aspects of rollovers, which are not always in clients' best interest.
Massachusetts, Montana Sue SEC Over JOBS Act
The states are unhappy with the capital-raising provisions, known as Regulation A+, which bar them from regulating some small offerings.
Deutsche Bank Hit With $55M SEC Fine for Misstating Financial Reports
During the financial crisis, “Deutsche Bank’s financial statements did not reflect the significant risk” in large, complex illiquid derivative positions, says SEC's Ceresney.
Andy Friedman: One Big Date That Could Shake Markets, Tax Code
Four political "forcing events" are coming to a head around a single date, Andy Friedman of The Washington Update says.
SEC, FINRA Enforcement: BHP Billiton to Pay $25M Over Olympics Invites
Meanwhile, FINRA has censured and fined EDI Financial Inc. for failing to have supervisory procedures in place for sales of private placements.
Dodd-Frank Rollback Bill Advances in Senate
The Senate Banking Committee passed on a sharp party-line vote Thursday the Financial Regulatory Improvement Act. Democrats including Sen. Warren blasted the bill.