Fiduciary Rule

The move brings wealth building and retirement planning advice to a large, underserved population of new clients.

“It will dramatically expand the number of advisors who will be fiduciaries under ERISA,” says one expert.

The department says it is working “to determine how we might improve” the regulation.

In the new Form CRS, firms must justify whether they place client assets in advisory or broker accounts.

Consumer advocates are calling for Gary Gensler to toss out Reg BI as wealth managers aim to keep the prior administration’s rule in place.

The state’s securities regulator claims the popular app uses “gamification” to manipulate customers and fails to prevent frequent outages on its trading platform, among other misconduct.

The regulation permits more exemptions from fiduciary duties, but may itself be replaced by the incoming Biden administration.

A recent study suggests sales of "expensive" VAs fell as a result of the vacated rule. But there are other factors at play, writes Raymond James' Scott Stolz.

Insiders see a Democratic administration backing tightened investor protections as industry advocates look to tax legislation.

Expenses fell by 20 basis points and risk-adjusted returns climbed 92 bps, according to the study.

The department faced scathing criticism for hours from insurers and consumer advocates alike.

From regulations to taxes, big changes could be in the offing.

Industry groups warn of creeping fiduciary obligations, while consumer advocates see it as a setback for investor protections

The party’s draft party platform criticizes lax standards implemented by the Trump administration, and vows to strengthen Social Security.

The Labor Department’s short comment period is one reason to get up to speed, fast.

The announcement was welcomed by Wall Street lobbying groups, some of whom sued to vacate the Obama-era regulation.

As the industry pushed to comply with the fiduciary rule, new issues emerged.

A Democratic-led SEC could revisit Reg BI, advocacy groups and industry observers say.

Firms are spending millions to comply with a controversial rule that is facing a legal challenge while state regulators push their own stringent regulations.

To hear some regulators tell it, “commission” is code for churning — but the fee-based vogue gives rise to reverse charges, writes Mark Elzweig.