FINRA Reminds BDs of Arbitration Rights for Clients, Reps
The self-regulator puts firms on notice that customers and reps can't be forced to waive their FINRA arbitration rights.
White House Issues Policy Directive on Cyber Coordination
Wall Street trade groups applaud White House directive on cybersecurity as furthering coordination between government and the private sector in preventing cyberattacks.
SEC Enforcement: Fake Brokers Charged With Taking $5M From Clients, Going to Prada
In another action, two former brokers were charged with taking client money and hiding their disciplinary histories.
How to Comply — and Why — With SEC Rules on Regulatory AUM
Whether you call yourself a financial planner or investment manager, pay close attention to the SEC’s instructions (and enforcement actions) on counting regulatory AUM.
DOL, SEC Fee Scrutiny Sparks Shift to Passive Investing
Use of passively managed funds and ETFs at indie BDs and wirehouses will continue to accelerate, says Broadridge.
Fiduciary Duty, Mutual Funds and 401(k)s: Will Asset Management Firms Kowtow on Fees?
The New York Life employees' lawsuit over the expenses of index funds in their 401(k) plan has broader implications for the asset management business.
State Street to Pay $382M Over Hidden Markups in Foreign Currency Trades
State Street set prices driven by predetermined markups and made no effort to obtain the best prices for clients, regulators say.
In Pleas to SEC, Businesses Slam Sustainability Disclosures
Businesses have pushed back against the SEC's efforts to make them disclose their environmental impact and stances on public policy matters.
Does DOL Fiduciary Rule Create a New Right to Sue?
The lawsuit by NAFA challenges the rule on six counts, but the key question is whether the rule creates a new private right of action.
Senate Shakeup Likely as Congress Up for Grabs
Some powerful committee seats could change hands after the election, analysts say. Meanwhile, there's still a budget to pass under voters' watchful, election-season eye.