SEC

The advisor fooled her victims into thinking she would invest their funds when in fact she used the money to buy luxury items and real estate, prosecutors claim.

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.

An unregistered advisor with little investing experience raised $1.4 million from family and friends and then squandered the money on bad investments, federal prosecutors say.

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.

“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.

The defrauded clients included the advisor’s own in-laws, who had suffered from Alzheimer’s and a debilitating stroke.

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.

The Massachusetts senator is struggling to get data that shows how bad sexual harassment might be on Wall Street.

The commission's approach stands a good chance of superseding the Labor Department's fiduciary rule.

The commission's new risk alert focuses on fees and expenses and amplifies its focus on disclosures and compensation structures.

Should advisors and brokers have plain-English job descriptions and be required to work in their clients’ best interest? Commissioners will vote on whether to move ahead with key proposals.

One couple in their eighties invested more than $700,000 with the alleged schemers, representing almost the entirety of their cashed-out pension, regulators say.

The misconduct is so pervasive that the regulator is temporarily allowing violators to come forward.

Instead of thinking about fiduciary purely as an obligation or regulation, advisors should envision it as something much bigger: a way of life.

Merrill Robertson Jr. had previously been sentenced to 40 years in prison in a separate criminal case.

Clients were allegedly steered into investments maximizing revenue for the bank and employees.

Investors brought a class-action suit against brokerage alleging a "scheme to churn revenue from essentially dead assets."