Changes are expected as Finra considers its controversial broker-comp rule this week. Industry watchers say wirehouses are largely backing a recruiting incentive regulation but IBDs oppose it.
As the Department of Labor readies to re-propose its fiduciary-duty rule, lobbying surrounding the issue intensifies. Did the Financial Services Institute Inc. draft an opposition letter signed by lawmakers? Probably; but that's not a scandal. That's business as usual in Washington.
Senate committee OKs central clearinghouse for issuing certification across multiple states; bill died last time around
But critics say one-stop shop a bad policy
Run for office — and upset victory — doesn't deter clients on either side of the aisle.
Instinet paid more than $800,000 to settle SEC charges that it gave commission rebates to an investment adviser who then used them to make improper payments to his ex-wife and to fund a personal residence.
