Arbitrators held Southwest Securities Inc. liable for compensatory damages and recommended expungement of the termination explanation on the rep's Form U-5.
Regulator brought broad, sweeping cases and also ramped up its crackdown on smaller infractions during Mr. Bennett's six-year tenure. <b><i>(Related read: <a href="//www.investmentnews.com/article/20161006/FREE/161009948/advisers-want-finra-to-focus-on-the-bad-guys-and-leave-the-rest-alone"" target=""_blank"" rel="noopener noreferrer">Advisers want Finra to focus on the 'bad guys' and leave the rest alone</a>)</b></i>
Appeals court denies annuity group's request for emergency injunction to delay implementation. (More: <a href=""" target="”blank"" rel="noopener noreferrer">Federal court rejects NAFA attempt to kill DOL fiduciary rule </a> )
While the president-elect's pick to head DOL hasn't said anything about the rule, others on the team have objected to it.
The hires come as Raymond James gained the most assets under management through adviser recruitment of any financial firm in the third quarter.
Initial implementation of the rule is currently scheduled to begin in April.
Some people turned away by their brokers are contacting mutual funds for help, fund trade group official says. <b><i>(Related read: <a href="http://www.investmentnews.com/article/20161205/FREE/161209971/betterment-presses-trump-to-keep-dol-rule" target="_blank">Betterment presses Trump to keep DOL rule</a>)</b></i>
Sailing through the chamber, bill includes changes to who is considered a sophisticated investor eligible to participate in private placements.
