Plaintiffs alleged broker used too much cash, failed to diversify.
Wells spent $1.2 million on lobbying in the first quarter, far exceeding other individual banks and financial firms.
Regulator augmented fine proceeds with $20 million from reserves to bolster technology, examination program.
Effort off to fast start with bipartisan House support, but skeptics questions annuities provision.
Lower withholding and the loss of state and local deduction throw many for loop.
SEC's case pending in D.C. Circuit Court could change how ADVs are written
Firms that didn't participate are now vulnerable to enforcement investigations, lawyers say.
With strong support of governor, proposal has momentum out of gate
Complying with regulatory review guidelines could delay advice rule and have a chilling effect on SEC guidance and no-action letters.
State Securities Bureau says SEC's Regulation Best Interest 'does not provide sufficient protections.'
