Vanguard lowered the account minimum for an institutional target-date fund, causing a migration from the retail TDF, leaving those who held onto it in taxable accounts with a big capital gains bill.
An Investment Adviser Association survey shows that for the second year in a row, the SEC advertising rule is the top compliance concern.
The Certified Financial Planner Board of Standards Inc. issues 17 sanctions in its latest round of disciplinary actions.
The broker-dealer self-regulator's net income of $218 million was $199 million higher than in 2020, thanks to significant increases in trading fees, investment gains and fines.
On the second anniversary of its going into force, the SEC chief is trying to get the most out of a rule he inherited.
The agency said UBS reps didn't understand the complex product or whether buying it was in a client's best interests.
The provision was rejected as an amendment to the Senate Finance Committee's EARN Act, but it could reemerge in a final bill sent to the floor of the House and Senate.
Part of the record penalty imposed last year on Robinhood will be used to help potential future customers protect themselves, according to Finra's annual report on fine monies.
The half-time scorecard indicates that four predictions are 'heading in the right direction' and six are 'too soon or too close to call.'
Their attorney, Jeffrey Erez, said they were misled by UBS brokers who didn't understand the risky product.
