House, Senate Introduce Lifetime Income Disclosure Act
Participants in workplace retirement plans would receive an annual statement of how their lump-sum savings translate into a lifetime stream of monthly annuity income.
Ex-JPMorgan Bank Teller, ID Theft Ring Get Prison Terms for Stealing $850K
The fraudsters referred to TD Bank as “touchdown” and to JPMorgan Chase as “Yase” in wiretapped calls, New York Attorney General Eric Schneiderman says.
SEC Fines Nationwide $8M for Delaying Mailed Customer Orders
For more than 15 years, Nationwide intentionally delayed delivery of untracked mail containing orders from customers, SEC says.
Is Fiduciary Sales an Oxymoron?
DOL and SEC need to make the distinction between sales and advice clear—and stop letting anyone other than an RIA call themselves an advisor.
Top GOP Senators Press DOL to Extend Fiduciary Comment Period
Majority Leader Mitch McConnell and HELP Committee leader Lamar Alexander were among those sending the letter asking for a 45-day extension.
Morgan Stanley Fined $2 Million Over Short-Sale Reporting
Billions of shares in positions weren't fully disclosed over a six-year period, according to FINRA.
What’s Best for Clients Is All We Need to Know
Some want to confuse the fiduciary debate, but in the end—and the beginning—it's all about acting in the best interests of clients.
SEC Private Fund Unit Focused on Conflicts, Real Estate Managers
"We’ve taken an investor protection view of regulating private equity," said SEC's Rozenblit.
FINRA Doubles Length of Suitability Suspensions, Toughens Fraud Sanctions
FINRA says it will be tougher on those committing fraud or making unsuitable recommendations and will increase suspensions for breaking suitability rules.
Sen. Hatch: SAFE Retirement Act Will Be Reintroduced
Senate Finance Chairman Orrin Hatch, R-Utah, plans to resubmit legislation to stop DOL from writing fiduciary rules for IRAs.