Former PIMCO Parent Pacific Life Moves Accounts to Janus
Pacific Life is moving some money to Bill Gross’ new firm, Janus, which said the decision pre-dated Gross’ exit.
Big Reg Charge Slashes LPL’s Q3 Earnings Forecast
One analyst says LPL's "inability to guide effectively on expenses," particularly regulatory ones, is a "recurring problem."
What a GOP Senate Takeover Means for Dodd-Frank, CFPB, User Fees
AEI's Peter Wallison and others weigh in on what it will mean for advisors if Republicans dominate the midterm elections.
SEC's Bowden: Ethical Standards More Important Than Policy, Procedures
Advisory firms striving for compliance “can’t be effective by merely having policy and procedures, even if tested,” the exam chief said.
Perez: DOL Continues Fiduciary Redraft Outreach
DOL wants to “understand with granularity” stakeholders’ problems and concerns regarding the revised rule, the Labor secretary says.
Third of Clients Say They Didn’t Get Adequate Financial Planning Services
New research from the Financial Planning Coalition shows a lack of appropriate regulatory standards for those who say they are “financial planners.”
10 States With Most Advisors Headquartered
Most investment advisory firms’ main offices are concentrated in relatively few states, with distribution likely driven by access to financial markets, population and net worth.
SEC, FINRA Enforcement: HFT Firm Charged With Manipulating Closing Prices
In another action, FINRA slapped TD Ameritrade for a recordkeeping failure.
SEC Brought ‘Record’ 755 Enforcement Actions in 2014
The SEC filed a “record” 755 enforcement actions and obtained orders totaling $4.16 billion in penalties in fiscal 2014, the SEC says.
New DOL Fiduciary Rule Will Hurt Retirees, Panelists Say
While consumer advocates favor compelling brokers to act in a client’s best interest, much of the financial lobby is dead-set against them.