Regulation

Bank of America Corp.’s Merrill Lynch unit must face a lawsuit filed by two trusts that hold and administer mortgages on behalf of investors who own more than $1 billion worth of securities collateralized by the loans.

Former CFP Board Chairman Alan Goldfarb was the first CFP holder ever to be publicly sanctioned for a compensation disclosure violation, the board has confirmed – despite its assertion that he was not treated differently than other CFP holders.

FINRA’s Board of Governors will finally consider its controversial plan to require transitioning advisors to disclose recruitment incentives.

(Bloomberg) – A Morgan Stanley employee identifying himself as a credit audit specialist sued the bank over claims he suffered retaliation after he discussed the growing number of high-risk loans in its portfolio.

Operating in an environment where we are all expected to do more with less, asset managers increasingly rely on service providers. By constantly reinvesting in their businesses and infrastructure, established providers can easily scale and position asset managers for the future.

A lawsuit brought by husband-and-wife planners in Florida against the CFP Board has brought the federal court system into the debate over “fee-only” labeling and consequences – a topic that the industry has been struggling to define.

For almost nine years, the firm has been lending to companies with ratings in the B to BB+ range, below the investment-grade threshold, the employee claims.

Building a successful fund requires a distinguishable brand, an effective marketing strategy, and a commitment to distribution support.

The Department of Labor is pushing back its timeframe for releasing a highly anticipated proposal for expanding fiduciary responsibilities for advisors who work with retirement plans.

Bank of America Merrill Lynch will pay $2.8 million to settle claims that it took too long to compensate departing brokers.