SEC, FINRA, DOL Enforcement: Iowa Advisor to Repay 68 Pension Plans
In other actions, FINRA censures and fines New York-based Banesto Securities Inc., now known as Santander International Securities Inc., $650,000 for custody failures.
New Hire Roundup: Global X Names Berruga COO, Lynch Senior Compliance Officer
Also, Joseph Cusick, formerly of optionsXpress, joined MoneyBlock, and Robert Litterman was named Commonfund's new board chairman.
SEC’s Gallagher: Fiduciary Rule Likely Not Coming
Phyllis Borzi calls DOL's fiduciary redraft "No. 1 priority"; SEC Commissioner Daniel Gallagher adamant that the commission lacks the votes to make a rule.
DOL Moving Forward on Fiduciary Redraft: Perez
Labor Secretary Thomas Perez said to expect a redraft "in the coming months" while announcing a plan to require 401(k) fee disclosure guides.
SEC, DOL Enforcement: Big Four Accounting Firms Must Disclose China-Related Records
Meanwhile, DOL wins a $10 million settlement in ESOP case and Massachusetts bars an advisor for fraudulent, unethical activities.
Enforcement Roundup: Investors Win $900,000 in FINRA Arb Over Nontraded REITs
In other enforcement news, FINRA fined Barclays over electronic record storage and Instinet felt the SEC's wrath for improper soft-dollar payments.
DOL Fiduciary Redraft Likely Out by May
A proposed regulation of the DOL's fiduciary rule could be out by April or May, said Brian Graff, executive director of ASPPA and NAPA.
Advisor Opposition to DOL Fiduciary Revamp Still Strong: Poll
The poll by FSI also gauged advisors’ stance on a number of other issues, like the economy, taxes and succession planning.
Beware a Fiduciary ‘Wild West’: ASPPA Chief
ASPPA CEO Brian Graff lays out two hot issues to watch: DOL's coming fiduciary proposal and the growing specter of state-run retirement plans.
SIFMA Launches Investor First Initiative; CEO Gregg Says SEC Should Go First on Fiduciary
The “Our Partnership with You” initiative is designed to help investors “get the most” out of their relationship with their advisor.