SEC Rejects Non-Transparent ETFs
The SEC rejected plans by BlackRock and Precidian Investments to open a new type of ETF that wouldn’t disclose holdings daily.
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.
Have the CFP Board’s Recent Punishments Fit the Crimes?
First, do no harm. Was harm done in the cases of Ron Rhoades, “fee-only” wirehouse brokers and the Camardas?
End the ChFC vs. CFP War: An Open Letter to American College CEO Bob Johnson
The American College should reposition itself to support the emerging need for deeper post-CFP specializations and niche educational programs for financial advisors.
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.
Fed's Dudley: Bad Bank Behavior Might Mean Breaking Up Big Banks
Federal Reserve Bank of New York President William Dudley said the government will have to consider breaking up large financial institutions if Wall Street doesn't stop excessive risk-taking and breaking the law.
Perez: DOL Continues Fiduciary Redraft Outreach
DOL wants to “understand with granularity” stakeholders’ problems and concerns regarding the revised rule, the Labor secretary says.
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.