Regulation & Compliance

The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. approved changes to the Volcker Rule Thursday that let banks increase their dealings with certain funds by providing more clarity on what’s allowed.

As the result of background checks of all 87,000 CFPs, the group is now investigating 1,240 of them for possible misconduct.

The eQuipt Dashboard provides features to assist advisors with new compliance provisions.

A new report by Celent warns that broker/dealers and RIAs could face challenges meeting Reg BI's Duty of Care provision, among other concerns.

The Court ruled 8-1 in Liu vs. the Securities and Exchange Commission that the practice was allowable provided that the fees did not exceed the "wrongdoer's net profits," according to a majority opinion written by Justice Sonia Sotomayor.

The regulatory agency for broker/dealers has changed language to make clear that its rule would not apply to recommendations covered by the SEC's rule, which will be implemented on June 30.

If approved by the Senate, Crenshaw would take the seat previously occupied by Robert Jackson Jr., who left the commission earlier this year.

LPL program highlights the need for continuity planning in wake of an advisor's death. 'Whether on this side of the grave or the other, we never want to leave our clients floundering.'

Former Assistant Secretary of Labor Phyllis Borzi condemned the advocacy organization for trying to inhibit the SEC's ability to act on existing rules, during an Institute for the Fiduciary Standard webcast.

Some key areas for brokers to assess in determining whether they’re subject to the new rules as implementation date approaches.