Fiduciary standard

With the federal government standing down, attorneys general from California, New York and Oregon make a late appeal to save the rule.

Co-chiefs of the SEC’s Division of Enforcement tout a program aimed at repaying investors for excessive mutual fund fees as a new approach to curbing industry abuses.

The brokerage sector and investor advocates are gearing up for a fight over broker provisions.

The CFP Board’s new code of ethics should be celebrated for embracing the fiduciary concept — will the standards be strengthened even more in the future?

The departure might slow SEC Chairman Jay Clayton’s progress on creating stricter standards of conduct for brokers and advisors.

With the rescue attempt's failure, all eyes now turn to the SEC which is considering its own proposal for raising financial advisor standards of conduct.

Leading trade groups counter a request from AARP and three states for fiduciary rehearing, in hopes that the circuit court's rejection will be the last word on the regulation.

Critics say SEC efforts to regulate advisor titles could produce a game of whack-a-mole, as non-fiduciary financial professionals adopt other terms intended to blur lines.

FPA leaders say they are sounding out members and looking at where the proposals may fall short of needed investor protections.

The influential retiree advocacy group filed for a 17-judge review of the decision.

The firm’s headcount declined slightly in the quarter, but advisors’ productivity remains strong and growing.

The regulator's proposal is set to remake compliance standards for brokers and advisors.

By requiring brokers to look out for clients’ best interests, the SEC is effectively requiring them to give financial advice, which distinguishes them from online brokers and should let them keep charging clients premium fees.

Jamie Price doesn’t expect the firm's advisors to have any problem with a new standard after taking steps to comply with the more restrictive DOL rule.

"I still feel like NAPFA is one of the best kept secrets in the planning world and we want to change that," NAPFA CEO Geoffrey Brown says.

“The broker-dealer world has tried to hang their hat on suitability, and if you close your eyes a little and squint, they almost look like fiduciaries — but not really,” one advisor says.

If it's not uniform, and it's not a fiduciary standard, then it is at best a modest step forward, investor advocates say.

It appears the regulator bought into the investor choice argument of sales reps right from the beginning.

New rules recognize the fact that commission-based transaction services can be the most cost effective way for Main Street investors to receive financial advice.

New rules would set standards of conduct for brokers, require new disclosures and offer interpretive guidance for fiduciary advisors.