The claimants, mostly retirement savers, alleged Pershing allowed the rip-off
The loss is another in a string of setbacks for the firm on deferred compensation disputes
New approach also would allow previously registered brokers to remain in the industry through CE
A spokeswoman for the Bloomberg campaign says the SEC’s Reg BI ‘doesn’t set an adequate fiduciary standard’
NASAA wants to close the regulatory gap between IARs and other financial advice professionals
Now individual states must adopt the measure through legislation or rule-making
The latest update to Reg BI frequently asked questions asserts that the rule applies to high-net-worth customers
Concerns raised in comment letters include the expanse of the new rule and compliance costs
Proposal aims to raise bar for brokers to clear their records, but a lawyer for investors says it only will fill Finra's coffers
Capitol Hill Democrats are set to resist the spending proposal; the SEC requests a budget bump
