Compliance

"When you put this in the context of rule changes that have occurred since the financial crisis, this would rank at the top," notes James Allen, CEO of Hilliard Lyons.

Critics: DoL fiduciary rule would harm investors; Advocates: Americans' "retirement savings are being depleted by conflicts of interest every day."

The DoL’s proposed fiduciary rule would likely push some commission-based brokers out of the retirement market altogether, NAIFA’s JuIi McNeely testified during the second day of DoL hearings on the proposed rule.

Concerns about over-regulation and accusations of industry cynicism led the opening of the Labor Department's hearings on its proposal to impose fiduciary requirements on retirement advisors.

Brokerage industry leaders told Labor officials that the plan's contract requirements will compel them to drop less-affluent clients who want to retire.

Stifel CEO Ronald Kruszewski remains upbeat about his latest acquisition of Barclays' wealth management unit despite rising advisor attrition, telling analysts that "it will still be a wonderful deal from a shareholder perspective."

In its first day of hearings about the proposed fiduciary rule, the DoL has heard testimony from advisors, legal experts and other industry representatives — many seeking revisions to minimize the ‘burden’ of the rule’s future implementation.

A week of hearings on contentious fiduciary proposal gets underway as SIFMA chief warns brokers will abandon retirement market if rules take effect.

Warnings of a liquidity crisis in the bond market are a myth created by Wall Street in hopes of repealing regulation, said Krishna Memani, the chief investment officer of OppenheimerFunds.

The wirehouse collects for breach of a promissory note.

After "deep consideration" and despite legal obstacles, Kimberly and Jeff Camarda say they still want to right "grave wrongs."

Robo fears are based on newer technology where the motivation is to replace people, says the CEO of Addepar. Its portfolio analysis platforms currently serve $300 billion in AUM, the firm says.

The broker earned $57,000 in commissions off two clients and faces a dozen judgments and liens against him totaling more than $150,000, according to regulators.

How one son's distribution mistakes when inheriting his late father's IRA can be avoided; Plus, the IRS and U.S. Treasury say no more lump-sum offers and how one couple plans to retire at 33.

An arbitration panel ordered the wirehouse to pay two former clients $250,000, a mere 10% of what they originally sought, in a case involving the sale of funds of Puerto Rican municipal bonds.

Jorge Daniel Usandivaras claimed to have been fired for blowing the whistle on what he saw as improper transactions.

JPMorgan Chase said authorities are examining what its wealth management businesses and private bank told customers when selling them the company’s own investment products and enlisting hedge funds.

Pimco said regulators are considering taking action against the firm over marking of securities in the exchange-traded fund version of its flagship Total Return Fund.

Michael Shaw, who left the board amid turmoil over its disciplinary process, could end up working for former investigatory targets with new consulting gig.

Asset management industry leaders say the reason for creating Luminex was because of the challenges in trading large blocks in existing stock markets.