Regulation

The industry trade group announced its support for the proposal in a comment letter on FINRA’s new disclosure rules.

Having dodged the fiscal cliff and postponed the debt ceiling deadline, the Nation's leaders decided to let the spending sequesters happen. Will the result be to throw the economy into recession or cause an economic catastrophe? Sam Wardwell of Pioneer Investments doesn't think so.

Many financial advisors and their firms fail to understand and comply with custodial responsibilities to clients, according to the SEC . As a result, the commission has issued a “risk alert” and “advisor bulletin” to remind and educate planners about the importance of complying with custody rule.

“FSI has long supported a uniform fiduciary standard that increases protection for investors without limiting access to financial advice and service for Main Street Americans,” Dale Brown, the institute’s president and chief executive said in a statement Monday.

State Street Global Advisors has appointed Maria Dwyer as chief risk officer, effective immediately.

Regulators levied a $750,000 fine on Ameriprise for alleged wire transfer fraud committed by one of its brokers in 2010.

The Securities and Exchange Commission on Friday called for more information from industry members and other stakeholders about the potential impact of its proposal to apply a uniform fiduciary standard of care to broker-dealers and investment advisors who provide advice to retail customers.

Now that the March 1 deadline for Congress and the White House to reach a deficit-reduction agreement has lapsed, federal agencies must now begin to absorb $85 billion in automatic spending cuts, but for financial advisors, it could be business as usual, at least for the time being.

William Galvin, Secretary of the Commonwealth of Massachusetts, last week called out Charles Schwab & Co. for recently changing up its customer arbitration agreements by striking its investors' ability to join class action lawsuits.

Should mutual funds be backing off on holdings in gun and armament makers?