Three independent broker-dealers formerly operating under AIG's umbrella have been fined $7.5 million and ordered to pay restitution of $2 million to clients.
Insurance-owned firms and small broker-dealers most likely to throw in the towel.
Witnesses for and against the Labor Department's fiduciary proposal, including SIFMA's Ken Bentsen Jr., square off over the rule requiring brokers to act in clients' best interests.
Firm responds in suit saying CEO and counsel warned co-founder
<i>InvestmentNews</i> survey finds all corners of the advice business are expecting to face challenges, but stark differences about the degree of pain are evident among the channels.
The Labor Department will unveil a final version of the so-called fiduciary rule next Wednesday, according to a published report.
All advisers, even those who only charge fees, will be held to the standard when making recommendations to retirement plans, individual participants and IRA holders. Here's how.
In his new role, Mr. Robbins will be working with his long-time financial adviser Ajay Gupta.
Edward Beyn profited by excessively trading accounts of customers who were over the age of 60, the regulator alleges.
Prominent Wall Street critic says four firms may be violating securities laws by sending misleading signals to investors about the rule's impact on business.
The proposed rule could give brokers an upper hand with respect to rollovers when compared to some fiduciary 401(k) advisers.
For firms to succeed under the new requirements, they will not only need to comply with the rule but thoroughly assess their businesses and proactively adjust.
Transamerica along with other insurers have upped costs on in-force policies as they've had to contend with persistently low interest rates.
Seventeen percent reported abuse, down from 20% in 2010: Investor Protection Trust.
Many advisers and the firms they work for are still woefully unprepared for what lies ahead.
Post-DOL fiduciary rule, industry watchers expect even more outsourcing to help reduce or eliminate fiduciary liability when building plan lineups.
The president's goal is over a five-year period, with an increase of 11% for fiscal 2017. Taxes, including for capital gains, also would increase under the new budget proposal.
Guy Gentile accusing of fraudulently inflating price of stocks
A Michigan pension plan says the company bought back shares at artificially inflated prices because of misleading statements it made about its financial condition.
There is a new generation of financial companies that already lives up to the DOL's proposed rule.
