DOL Releases Fiduciary Rule FAQ for Investors, Workers
EBSA’s Phyllis Borzi says the second batch of FAQs are “meant especially for workers and retirement investors.”
Trump Appoints CFPB Critic; Sen. Warren Rallies Support for Agency
Kyle Hauptman, an ardent critic of the CFPB, will be a part of Trump’s transition team for the agency.
House Passes Bill to Rein In SEC Rules, ‘Drain the Swamp’
Bill, sponsored by Rep. Ann Wagner, also requires the agency to review existing regulations every five years.
Citi to Return $22.5M in Excess Fees
The reimbursement, ordered by the New York Attorney General, affects about 47,000 mutual fund clients.
SEC's Top 6 Exam Priorities for 2017
The exam unit has outlined areas where it sees risk to investors.
Wells Fargo Misses a Chance to Show Off
The bank’s CEO, Timothy Sloan, can dampen the effects of its mismanaged scandal by becoming a leader on employee compensation.
UBS Hit With Second $18M Ruling Over Puerto Rican Munis
The ruling includes $4 million in punitive damages, while the prior award is being challenged in court.
SEC Whacks Citadel for $22M Over Misleading Trade Prices: Enforcement
In other news, the Port Authority of New York and New Jersey is the first municipal issuer to admit wrongdoing in an SEC enforcement action.
Can Brokers and Agents Act in Their Clients’ Best Interests?
A reader accuses me of unfairly comparing the dings of broker-dealer firms to those of RIA firms. I reply in my modest way.
Morningstar Adds 2 to C-Suite
Tricia Rothschild is now chief product officer; Danny Dunn has joined from IBM to be the firm's first chief revenue officer.