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'Dissident' candidate defeats Finra's hand-picked nominee for board seat
Brian Kovack wants to make the organization more effective without antagonizing firms that are doing the right thing
Cetera closing J.P. Turner, offering some brokers jobs at Summit
CEO Larry Roth claims the move is not part of any widespread consolidation within RCAP's retail brokerage division.
Under regulatory pressure, Voya restricts sales of more variable annuities
Voya Financial Advisors has restricted sales of variable annuities for the second time in two months, as the brokerage firm faces increased pressure from regulators questioning the suitability of the products for retirement savers.
LPL Financial CEO Mark Casady says firm close to finish line with fines and settlements
Chief executive Mark Casady says the firm has "couple things left to go" before enforcement actions resolved.
LPL sets lofty goal for more automated operations processes
The company aims to ramp up its level of automation from 15% to 85% within the next few years.
LPL cracking down on brokers who collect retirement account fees from family members
Anticipating an enforcement push, the broker-dealer told brokers that next year they will no longer be able to receive a fee or commission from retirement accounts belonging to family members.
Royal Alliance to pay $1.4 million over nontraded REIT, VA sales
Award is tied to string of cases brought by retirees who said a broker placed them in unsuitable investments.
Banks are cutting broker-dealer units from their 'living wills'
Breakfast with Benjamin: The nation's biggest banks, like JPMorgan Chase, are lumping their broker-dealer units in with other 'non-essential' operations.
SEC appeals own judge's decision in case on custodians' payments to advisers for fund picks
The regulator is fighting a decision by its administrative judge to dismiss charges accusing two financial advisers of not informing clients they were paid by Fidelity Investments to sell certain mutual funds.
Voya restricts variable-annuity sales under regulatory pressure
In response to Finra's warning on suitability, the firm's affiliated brokers will no longer sell certain types of L share annuities, a move that puts the company in line with other B-Ds.
Stifel Financial in deal to buy Barclays' U.S. wealth unit
Stifel Financial agreed to buy Barclays Plc's U.S. wealth-management business, which has about 180 financial advisers in the U.S. managing $56 billion in total client assets.
Pershing CEO: RIA growth outpacing B-Ds
Ron DeCicco expects the RIA channel to continue growing while regulatory pressures and higher expenses weigh down broker-dealers.
LPL hires E*TRADE CFO Audette to replace Dan H. Arnold
Manager known as a 'turnaround artist' to take financial helm after Arnold bumped to president to replace Moore.
Stifel deal for Barclays unit would amp up ambitions to attract elite advisers
An acquisition of Barclays' U.S. wealth unit would add $47 billion in assets and 249 advisers who focus on ultrahigh-net-worth clients, filling a gap in Stifel Financial CEO Ron Kruszewski's advisory business.
Raymond James bolsters indexed annuities and life wholesaling with acquisition
Deal with insurance marketer Producers Choice is expected to give the broker-dealer greater control over the way annuities are wholesaled to its advisers.