DOL Fiduciary Redraft Still Coming in January: OMB
An update from the OMB shows the DOL still plans a January release, despite speculation to the contrary.
SEC Enforcement: HSBC to Pay $12M Over Cross-Border Breaches
Meanwhile, a CEO and the manager of a restaurant he frequented were fined for insider trading.
How Fiduciary Advisors Can Change Wall Street—Again
Ron Rogé and NAPFA pushed, and the public pulled, big brokerages to adopt an AUM model. The same can be done with a fiduciary standard.
‘Faulty’ Analysis Could Torpedo an SEC Fiduciary Rule: Advocates
SEC’s analysis on a fiduciary rule must be “thorough and well-reasoned,” as a “faulty analysis could doom or further delay” prospects for reform.
Citigroup to Pay $15M FINRA Fine Over Research Leaks
Analysts' violations included illicitly helping issuers prep for road shows and hosting "idea dinners" discussing stock picks with certain clients.
Cost Basis Reporting: The Gift That Keeps on Giving
Cost basis reporting continues its march to full implementation.
The SEC Is Broken
The Securities and Exchange Commission has three primary mandates: to protect investors; to maintain fair, orderly and efficient markets; and to facilitate capital formation.
Enforcement Roundup: Madoff Recovery Total Hits $10 Billion
Meanwhile, the SEC suspended trading of four companies over concerns about their Ebola remedy prospects.
Millionaires Do Not Need Protection: SEC’s Gallagher
SEC chairwoman insists accredited investor definition will be reviewed; Commissioner Gallagher says “millionaires can fend for themselves.”
Bank of America Granted Penalty Relief After SEC Compromise
The SEC has resolved an impasse over punishing Bank of America in a mortgage case, clearing the way for a $16.7 billion global settlement.