Regulation

Guidance on new advice rules coming this month as OCIE and enforcement divisions struggle to expand oversight with limited resources.

Restoring fee-model disclosures to its website is just the first step in correcting the organization’s “monumental failure,” according to fiduciary watchdog Ron Rhoades.

The decision does not diminish the board's conviction that consumers have a right to know how they are paying for products and services, writes the former board chairwoman.

"If rules are too broad or vague, we may end up circumscribing conduct that we never intended to capture,” Commissioner Allison Herren Lee said.

“The only reason why I could see them doing that is shame,” one critic says of the move; the board calls it an important shift in the conversation about fiduciary care.

A client's lawsuit claims the snafu caused users of its app “to miss out on some of the highest single-day market gains in recorded history.”

In an hour-long session, justices considered the agency's use of “disgorgement” to collect money from someone the commission sues in federal court.

While the sustainable industry accounts for less than 1% of the $20.7 trillion held in U.S. mutual funds and ETFs, the space is growing fast.

Five years of alleged promises, checks that never arrived, and a mysterious employee named “Tryg Nederloe” add up to a bizarre saga with wide ramifications.

A Supreme Court ruling could eviscerate one of the agency’s most potent weapons.