Law and regulation

Charles Hallac, who conceived BlackRock’s investment management platform and founded its advisory business, has died. He was 50.

Bennett and her firm claimed to be managing more than $2 billion in assets when the real number was no more than one-fifth of that amount, the SEC alleges.

Though technical issues with Bank of New York Mellon's fund accounting system left an estimated 10% of U.S. ETFs and some mutual fund providers unable to accurately price their products for nearly a week, the bank's custody business is expected to remain intact.

The firm suffered another arbitration loss this week to clients seeking damages related to the firm's closed-end funds of Puerto Rico municipal bonds.

Industry arguments against the DoL’s fiduciary rule proposal do not consider the digital revolution in financial advice.

Banks and credit unions have traded barbs for years with much of the banks' discontent aimed at credit unions' tax exemption.

Bank of New York Mellon, which has been plagued for the past week with computer problems that prevented it from providing prices for mutual funds and ETFs, said today it has provided net asset values for both through Friday.

Getting kicked out of the industry doesn't mean an end to payments from the sale of a book of clients. Plus, knowing whether FINRA's suitability rule applies to foreign clients.

The Board also sanctioned 19 other advisors, including one who allegedly lied about taking an exam on behalf of another advisor.

Investment managers facing tough questions from regulators over what caused trading disruptions for hundreds of exchange-traded funds this week said they got hit by a double whammy.

The glitch's impact is widespread. Prudential, for instance, says 40 of its more than 60 funds were affected.

Two former advisors allege they were punished and eventually fired for reporting misconduct including trainees and interns entering trades as well as misleading clients during cold calls.

RIAs can be an easy entry point for organizations looking to move dirty money and avoid other financial entities that have formal AML procedures in place, says FinCEN.

The Wall Street regulator hit Charles Schwab with the penalty for net capital deficiencies and supervisory failures.

The advisor, who worked at U.S. Bank, claimed that he was fired in retaliation for complaining about a co-worker who he felt made unsuitable investments for the advisor's 94-year-old client.

Deutsche Bank co-CEO John Cryan is considering the biggest overhaul of the lender’s management structure in more than a decade.

Fiduciary advocates question the math behind the opponents' estimate, calling it an "Alice in Wonderland report" without backing.

Marzano Capital Group joins LPL-affiliated recruiting firm Independent Advisor Alliance.

The government aims to reduce the "magnitude of the injury" to clients from conflicted advice, Timothy Hauser, the official who chaired the hearings on Capitol Hill, tells Financial Planning.

A "cautionary" note on the third day of hearings after DoL officials quiz industry attorney in the slippery task of trying to ascertain details of common commission sales.