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The fines, $500 million each to the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency, covers issues in Wells Fargo’s auto-lending and mortgage units.
David Hogg called out big asset managers on Twitter, Daniel Glick was sentenced to 12 years in prison and Dennis Zank is going from Raymond James COO to an advisor.
The SEC commissioners pushed through a proposal package that would establish a best interest standard for broker/dealers and restrict brokers from using the titles “advisor” or “adviser.”