Financial Engines Lawsuit Could Spark Other Robo-Advisor Suits
Financial institutions that offer computer-based advice, or are considering it, should pay close attention to the Financial Engines case.
BofA to Pay $16.65 Billion to End U.S. Mortgage Probes
The settlement, which includes $7 billion in consumer relief and a $5 billion penalty, is the harshest penalty yet related to the 2008 financial crisis.
SEC Money-Market Plan Could Cause ‘Pre-emptive Runs’: NY Fed
The Federal Reserve Bank of New York and the SEC aren’t exactly seeing eye to eye on controlling risk in money market funds.
Fiduciary-Only Advisors: Of Attorneys, 'Agents' and Schmucks
Readers of my recent blogs had some interesting responses (with colorful language) about the viability of my suggested designation of 'Fiduciary-Only Advisors.'
DOL Seeks Feedback on Brokerage Windows in 401(k)s
The range of investments available in the "window" and how much disclosure workers get about them are some of the questions DOL wants answered.
The Man Who Blew the Whistle
A former MassMutual agent turned SEC annuity whistleblower spoke about his experience to Joe Nocera of The New York Times.
Elder Financial Abuse Targeted by State Regulators
Since 2008, NASAA said, more than 34% of enforcement actions by state securities regulators have involved senior victims.
SEC Begins Exams of Municipal Advisors; Focus on "Identified Risks"
Over the next two years, OCIE plans to examine a “significant percentage" of muni advisors, "establishing a presence" and focusing on risk.
Tax-Exempt Nonprofits Owe Millions in Payroll Taxes
Some tax-exempt groups are seriously delinquent on payroll taxes, but the IRS doesn’t appear too eager to go after them, according to a recent report.
FINRA Charges Wedbush With Market Access Violations
Wedbush's lax supervision enabled customers to flood U.S. exchanges with thousands of potentially manipulative wash trades, FINRA says.