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Gero, a New York-based managing director in Royal Bank of Canada’s wealth management division, served for 54 years trading precious metals as a member of the New York Mercantile Exchange and Chicago Mercantile Exchange.
The new rule allows fiduciaries in retirement plans to be exempt from certain prohibited transactions provided they adhere to a number of 'impartial conduct standards.'
Redfearn, who led the SEC’s Division of Trading and Markets, which was responsible for ensuring firms remain in compliance with Reg BI, will leave the agency by year’s end.
The partnership with White Oak Investment Management comes several weeks after LPL purchased the broker/dealer business of Waddell & Reed for $300 million.
Even though Michael Jackson's estate was saddled with over $500 million in debt when he died, due to the great work of his executors, it has earned over $2 billion since his death.