Aiding and Abetting: How Client Wrongdoing Can Hurt You
Most financial advisors would refuse to aid and abet a client in breaking the law. But sometimes the situation isn't so clear-cut.
No, New Broker Rules Won't Strand Investors
In opposing DOL's proposed fiduciary rule on retirement advice, Wall Street is really arguing it would be too costly to provide non-conflicted advice. That's different from saying the rule would harm lower-income savers.
Activist Hedge Funds on a Roll, Returning 50% in 2012–'14
U.S. hedge fund managers such as Daniel Loeb, Barry Rosenstein and William Ackman have become boldface names in the hedge fund sector in recent years.
Flood of 401(k) Suits Expected if Tibble Prevails in Supreme Court
Oral arguments begin Tuesday in the first 401(k) excessive-fee case that the high court has agreed to hear.
Lockheed to Pay $62 Million to End Worker Pension Lawsuit
Employees and retirees say the defense firm charged them “unreasonable and excessive” fees on retirement plans.
FINRA’s 5 Biggest Fine Categories in 2014
FINRA fines more than doubled in 2014 even as the regulator filed fewer cases, according to the law firm Sutherland Asbill & Brennan.
Fiduciaries to Pay $39M for Raiding Death Benefit Plans; Outcry Over DOL Rule Continues
A federal court entered a $39.8 million judgment in favor of workers who participated in more than 400 death benefit plans.
New Hire Roundup: PIMCO Names Fels Managing Director, Adds CIO
Meanwhile, New York Life says it will hire 3,600 reps this year.
How to Survive Today’s SEC Exams: Giachetti
One major issue: on cybersecurity, the SEC is “putting the onus on you,” the noted securities lawyer warned RIAs.
New Hire Roundup: Morningstar Shuffles Leadership
Meanwhile, the SEC has appointed a new equity market structure committee, which includes FINRA CEO Richard Ketchum.