Regulatory relief

Survey shows advisors accept fiduciary mindset but do not see major impact on product choices yet.

The regulation's enforcement provisions will not take effect until July 1, 2019, the Labor Department said.

Secretary Alexander Acosta told lawmakers that the department will pursue actions against advisors and firms for egregious best-interest advice violations.

The SEC sought $3.4 billion in sanctions, the lowest total since 2013, according to data collected by a law professor at Georgetown University.

Harmonizing a potential SEC regulation with that of the Labor Department is tricky business, experts say.

The department's proposal furthers efforts to undo the controversial regulation.

Speaking to hundreds of industry executives, Jay Clayton said his agency can't simply supplant the Department of Labor.

The board metes out punishment against planners Jeffrey and Kimberly Camarda after they unsuccessfully sued the board.

It's a bigger challenge to keep pace with a fast changing industry, CEO Robert Cook said.

Chairman Jay Clayton says the regulator is drafting a rule proposal to harmonize standards for brokers and advisors.