Vanguard was forced to sell as much as 15% of the assets in retail target-date funds, resulting in substantial capital gains taxes for investors who held the funds in taxable accounts, the lawsuit asserts.
The payoff for pro bono work doesn't show up on the bottom line. It’s in the returns you get from touching someone’s life at a vulnerable moment.
Firms say technological advances allow them to oversee reps no matter where they work. A compliance expert cautions that the best evidence of malfeasance is found on site.
The agency 'has serious concerns about the prudence' of exposing plan participants' retirement savings to investments that carry 'significant risks of fraud, theft, and loss.'
The regulator is assessing the risks that may arise when retail investors purchase complicated investments without the help of a financial adviser.
Advisers will have to wait a while longer before they get answers on issues such as custody, as regulators sort out crypto oversight.
Best execution has become a regulatory priority for Finra and the SEC in the wake of the January 2021 GameStop trading frenzy.
Even with a long runway — the rule became effective last May 4 with an implementation deadline of Nov. 4 — getting ready for the measure has become a top compliance worry for advisers.
In February, the agency continued to retain 17.6 million tax returns from the 2020 filing season and about 5.9 million pieces of taxpayer correspondence that required manual processing.
Last year’s attempt to raise taxes on the wealthy has catalyzed conversations between advisers and clients about tax strategies this season.
