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.
Top GOP Senators Press DOL to Extend Fiduciary Comment Period
Majority Leader Mitch McConnell and HELP Committee leader Lamar Alexander were among those sending the letter asking for a 45-day extension.
Lawmakers Ask DOL’s Perez to Extend Fiduciary Comment Period
Lawmakers asked Perez to extend by another 45 days the comment period on DOL's fiduciary redraft, but fiduciary advocates disagree.
SEC Panel: 2 Big Problems With Advisor Background Checks
Investors don’t check advisor and rep backgrounds, and the data itself can be problematic.
SEC Probes Whether 12b-1 Fees Are Used Properly
SEC is examining whether the rules for the fees and their disclosure are being followed and “what funds are paying intermediaries for.”
SEC Reviewing 12b-1 Fees
The SEC is reviewing the entire spectrum of 12b-1 fees, the deputy exam director said Tuesday.
SEC’s Ability to Deliver True Fiduciary Standard in Doubt: Report
Institute for the Fiduciary Standard says the SEC believes "conflicts are routine and acceptable — not inherently inconsistent with providing objective advice.”
SEC's White Supports Fiduciary Rule for Brokers, Third-Party Audits
While many in the industry are applauding SEC Chairwoman Mary Jo White's declaration that she will push to ensure the agency extends a fiduciary rule for brokers, concerns remain that such a rule will be a long time in the making.
SEC Urged to Reform 12b-1 Fees, Block Risky ETFs
The SEC "can no longer afford to relegate ... retail investor protection priorities to a back burner," the groups told the agency in a letter.
Forced Arbitration Clauses Harm Consumers: CFPB
Pre-dispute arbitration clauses "restrict consumer relief" in disputes with financial companies by limiting class actions, says Director Richard Cordray.