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.
Financial Industry Not Doing Great Job on Social Media: Twitter Exec
At SIFMA event, experts point to ways advisors and broker-dealers can embrace mobile communications.
SEC Probing BDs’ Low Number of Suspicious Activity Reports
Considering the volume of transactions and the nature of the BD industry, the SEC's top cop finds the dearth of SARs a little, well, suspicious.
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.
Obama Endorses DOL Fiduciary Redraft, Girds for Fight
“If you want to give financial advice, you have to put your clients’ interest first,” Obama said Monday, blasting “backdoor payments” and high fees.
New Hire Roundup: PIMCO Names Fels Managing Director, Adds CIO
Meanwhile, New York Life says it will hire 3,600 reps this year.
Wall Street Finally Blinks in Fiduciary Standoff
The securities industry has done a masterful job of deflecting initiatives to force firms to act in clients' best interest. Is it different this time?
SEC to Conduct ‘IT-Related’ Exams of BDs, Advisors
Examiners will take a targeted look this year at “the quality of the technical infrastructure” of firms’ cybersecurity controls.
Wells Fargo Advisors Names New Compliance Chief
Jim McHale used to head compliance at E*Trade and served as counsel to SIFMA.
Bad Guys ‘Winning’ in Cyberattacks
It’s inevitable that cyber breaches will happen, so prevention alone is not enough, FINRA and SIFMA say.