Patrick Donachie

One lawyer representing affected investors in suits against the company excoriated the loan, calling the move 'one of the most flagrant abuses of taxpayer dollars of this century.'

The Consumer Federation of America, AFL-CIO, Financial Planning Association and others wrote a letter to the Labor Department calling for a 90-day comment period for its revised fiduciary rule, instead of the current...

The recipients of loans included Aspiriant and Riskalyze, who were two of the more than 660,000 businesses that received loans of $150,000 or greater, according to Treasury Department data.

The model act is currently open for public comment until the end of the month, and if passed, it would be up to individual states to enact legislation.

Some retirement experts expressed surprise that the DOL's proposed exemption for fiduciaries included any expanded investor protections, but they also cautioned the changes lacked teeth.

Despite a legal challenge and other controversies, implementation for the SEC’s long-awaited Regulation Best Interest is here, and the agency is set to begin examinations and enforcement.

The Department of Labor said the proposed rule would align with the SEC's Regulation Best Interest, while consumer advocates call it as a wishlist for the brokerage industry.

In light of the federal appeals court decision to uphold Reg BI, XYPN says it may take its case to the Supreme Court. Fiduciary advocates also expect more states to take action.