New bipartisan legislation would quash a Labor Department proposal to strengthen investment advice standards for retirement accounts.
Plan sponsors appreciate auto enrollment and qualified default investments, but there are imperfect fits at the individual participant level.
As excessive-fee suits are poised to move down market, advisers should pay attention to teachings of 401(k) suits such as Boeing's.
Steven A. Cohen is poised to make a return to the hedge-fund industry by 2018 under an accord with U.S. regulators that settles allegations that the billionaire failed to supervise a convicted insider-trader at SAC Capital Advisors.
SEC orders the wirehouse to pay $8.8M for what the regulator claims was unsupervised prearranged trading. Brokerage firm Societe Generale Americas also agreed to pay $1M for the same case.
New Hampshire securities regulator claims unsupervised sale to 81-year-old investor was unsuitable and resulted in significant losses.
The author of legislation that would halt the Labor Department's fiduciary rule anticipates the measure will make it at least to the House floor.
Despite what opponents say, IRA rollovers will likely withstand implementation of the fiduciary rule.
The firm's settlement with the states was reminiscent of how broker-dealers handled various settlements in paying clients who bought auction rate securities.
Firm falsely claimed brokers in banking unit were paid based on client performance, regulator charged.
Finra orders the firm to pay $7.3 million for selling billions of unregistered microcap shares and having inadequate supervisory policies.
A unit of Fidelity has been targeted in a class-action suit for fiduciary breach under ERISA as a result of its alleged mismanagement of a stable value fund.
Claims against Justin Amaral include liquidating and acquiring annuities for victim by forging her signature.
Finra alleges a New Jersey-based broker-dealer failed to reasonably supervise VA sales.
<i>Breakfast with Benjamin</i>: This week's rate hike could hit the markets in a half dozen, mostly bad, ways.
In a victory for proponents of the rule, legislators' policy riders that would have prevented or delayed the regulation did not make it into the massive must-pass spending bill.
Some advisers swear by it, while others shun it as useless legalese.
Brokerages would have to send an 'educational communication' to investors outlining questions they should ask their broker about compensation and other inducements for switching firms.
Fiduciary legislation could be a part of Congressional negotiations to avoid a government shutdown.
