Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
If the latest lawsuits challenging Reg BI are successful, that could send the Department of Labor back to the drawing board in its effort to recraft a fiduciary rule for ERISA accounts.
The network, founded and led by Michael Kitces and Alan Moore, filed suit in New York's Southern District, claiming the SEC's Reg BI would give an unfair competitive advantage to brokers over registered investment advisors.
At FSI's 2019 Forum, SEC Chief Counsel of the Division of Trading and Markets Emily Westerberg Russell addressed how broker/dealers should think about conflict-of-interest disclosures, and whether the SEC would preempt more stringent state rules...
Attorneys general from seven states, including New York and California, along with the District of Columbia, argue that the SEC's rule doesn't protect investors as mandated under Dodd-Frank.
Elias Herbert Hafen told clients to liquidate stocks and retirement accounts to invest in a fake investment fund, according to allegations; instead, the money went toward his expensive art collection.
The SEC alleged that by putting investors in higher-cost share classes, for which it was compensated, Cetera’s corporate RIA received about $5 million more in 12b-1 fees than if it had put clients in lower-fee share classes.
