Regulation

In an exclusive interview, Skip Schweiss, managing director of advisor advocacy at TD Ameritrade Institutional, spoke about the tensions, dangers and future outlook of the fiduciary standard being debated in Washington -- and how the decision might drastically alter the advisory landscape.

The Securities and Exchange Commission has approved new FINRA rules that prevent mutual fund and hedge fund industry personnel from serving as public arbitrators, effective July 1.

The Securities and Exchange Commission has approved new Financial Industry Regulatory Authority rules that prevent mutual fund and hedge fund industry personnel from serving as public arbitrators, effective July 1.

The future of a uniform fiduciary standard regulating the broker-dealer and RIA space is unlikely, according to Barbara Roper, director of investor protection for the Consumer Federation of America.

Regulators are focusing attention on ensuring community banks have proper security systems in place in the wake of a string of cyberattacks on megabanks.

Buyer beware! The Financial Industry Regulatory Authority today issued an investor alert regarding the burgeoning alternative mutual fund asset class.

With the passing of Dodd-Frank, the SEC is paving the the way to adopt a uniform fiduciary standard for broker/dealers and investment advisors. Barry Glassman of Glassman Wealth says that there's no feasible way for brokers to uphold the same fiduciary standard to which RIA are held. He writes, "for them to come under the fiduciary standard as it currently exists, their businesses would have to split up into so many micro pieces that it would be disastrous for them." But the alternative, as it is being proposed, is for the very meaning of the fiduciary standard to change.

A Detroit investment adviser will pay $3.1 million to settle U.S. Securities and Exchange Commission claims that he stole money from a police pension fund to finance his purchase of two California strip malls.

“Nothing I did in the last five years had anything to do with selling on a commission basis,” he told Financial Planning.

The Securities and Exchange Commission last week unveiled its money market fund proposals that, in part, seem to have won the support of its biggest critic: the Investment Company Institute.