DOL Advisor Crackdown Is ‘Out of Control’: Benefits Lawyer
The DOL conducted more than 3,600 audits of qualified retirement plans last year. Settlements related to violations totaled $1.7 billion in plan reimbursements and fines.
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.
Wells Fargo Compliance Officer Altered Doc After Insider Trader Slipped Through Cracks: SEC
Document was changed to cover mistakes in reviewing broker’s illegal Burger King trades, SEC says.
AIG Shareholders Still Want a Nicer Bailout
Why would anyone call Paulson, Geithner and Bernanke to testify on Delaware’s corporate governance standards for reverse stock splits? There's something else going on here.
Rep. Garrett to FINRA: Hold Off on CARDS
“After a preliminary reading of the proposed rule, I remain far from convinced that this new, costly and burdensome proposal is needed,” Rep. Garrett says.
New Fiscal Year Will Bring More Advisor Cases: SEC Enforcement Chief
SEC enforcement chief Andrew Ceresney says the agency will continue to bring cases on matters like fees and conflicts of interest.
LPL to Pay More Than $500,000 Over Annuity Surrender Charges
LPL Financial agreed Tuesday to pay $541,058 to seniors in Massachusetts for failing to properly disclose surrender charges these clients paid when switching VAs.
Regulation Is Boutique Asset Managers’ Biggest Growth Hurdle
Nearly half of boutique firms said regulation was the critical factor that could break their firm, up from 17% in 2013.
Enforcement Roundup: FINRA Fines Morgan Stanley for Failures to Supervise Advisor Program
In other action, Massachusetts charges couple with fraud in real estate ventures.
Fiduciary September and What’s Possible
What we learned during Fiduciary September from John Bogle, John Taft, Barbara Roper, Troy Paredes and Robert Plaze.