Court Rules There’s No 180-Day Limit on SEC Investigations
An appellate court has agreed with the SEC’s self-serving interpretation that Dodd-Frank's 180-day Wells notice limit was not an enforceable limit at all.
Retirees Suffer as 401(k) Rollover Boom Enriches Brokers
A three-month Bloomberg investigation found that former employees at major companies say sales reps lured them into rolling their 401(k)s into unsuitable investments.
To Thwart SRO, Rep. Waters Introduces User Fee Bill
Maxine Waters, D-Calif., introduced on Wednesday a bill that would allow the SEC to collect user fees from advisors to fund their exams in lieu of an SRO.
Resolved: FINRA Should Review These 10 Outdated Rules
FINRA should heed the advice of a recent GAO report and revisit these rules, which the authors humbly suggest either no longer work as intended, or have effectively been replaced by other rules or guidance.
In response to the GAO recommendation,
BofA Makes Retirement Services Push for Merrill
Bank of America is rolling out a defined-contribution consulting service for institutions at Merrill Lynch and a 401(k) service for small businesses at Merrill Edge.
Reconsidering Reverse Mortgages
Times were tough for Dorothy Ariail back in 1977 when she became a young widow with three children.
New Hire Roundup: Mitchell Goes to Leuthold; Hoffman Joins Franklin Square
This week in new hires, the Leuthold Group named Ben Mitchell managing director; Robert Hoffman joined Franklin Square; Hilary Fiorella was welcomed at Fiserv and Keith Johnson joined Curian Capital.
New Hire Roundup: Kiley to Lead Security Benefit; SNR Denton Welcomes Samlin; Edelman Recruits Bottazzi
This week in new hires, Michael Kiley was named to become CEO of Security Benefit Corp.; Scott Samlin went to SNR Denton; Edelman Financial Services recruited Joe Bottazzi from outside the industry and Reliance Trust named Robert F. Cook to head its church and nonprofit division.
GAO Touts Annuities in Uncertain Retirement Environment
Want some free marketing material for your annuities business? Look no further than the U.S. Government Accountability Office.