Regulation

Richard Ketchum adds that the regulator needs to take a closer look at the culture of wealth management companies to see if executives are setting the right tone: "It is essential that a firm's leadership own the policies and procedures."

“The SEC is notorious for blowing through rule-making deadlines—both congressionally mandated and self-imposed, such as this,” says Micah Hauptman, financial services counsel at the Consumer Federation of America.

Commission staffers are probing how broker-dealers are handling ETFs and the extent to which investors understand the risks of the funds.

An arbitration panel ruled in UBS' favor, after the wirehouse alleged that a former adviser stole client data before moving to Wells Fargo.

The new rules were developed in consultation with the SEC, the Labor secretary adds.

Three weeks after the broker killed himself, the firm agreed to a confidential settlement with his wife for an undisclosed amount.

“The election could be disruptive to this rule,” Brian Hamburger predicted.

The Massachusetts-based planner, who allegedly told clients their money would be invested in a hedge fund, was also ordered to pay $1.89 million to victims.

In an unusual move, the two veteran advisers left the independent channel to rejoin an employee broker-dealer.

The regulator says the firm had "widespread failures" in its anti-money laundering programs for both its employee and independent channels.