Financial regulations

Based on the “forced experiment” of its remote periodic examinations of broker-dealers, the onsite portion “may not be necessary,” Robert Cook said.

Investor advocates, religious groups and proponents of ESG investing argue the changes are a gift to business lobbyists that will muzzle corporate critics.

The broker hasn't been registered in over a decade, and was using clients’ usernames and passwords to make trades in their self-directed brokerage accounts, according to the regulator.

One problem is the proposal is focusing on the minor advantage of tax-deferred retirement plans, says Bloomberg columnist Aaron Brown.

The department’s new proposal would restrict when fiduciaries can vote in retirement plans.

Previously, criteria focused on an investor’s wealth. Now, a broader group has access to investments that include private company offerings and certain private equity funds.

More than 95% of comment letters submitted were opposed to the Labor Department’s proposed rule, according to a new analysis.

It’s the latest dramatic twist in the story of USO, which was at the center of the storm as crude prices plunged earlier this year.

Industry groups warn of creeping fiduciary obligations, while consumer advocates see it as a setback for investor protections

The change bars money managers from using some types of business entities to take advantage of an exemption to rules laid out in the 2017 tax law.