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Wirehouses, RIAs benefit from bonus disclosure at expense of smaller B-Ds
The proposed Finra bonus disclosure rule, which could curtail the size of mushrooming recruiting packages, exposes a chasm in the advisory industry, pitting smaller broker-dealers against large wirehouses and RIAs.
SEC cost-benefit analysis turns up dearth of data on fiduciary rule
An indication by the Securities and Exchange Commission that it has failed to collect much data to gauge the potential impact of a rule to raise investment advice standards has fiduciary-duty advocates scratching their heads. The request for information that the SEC put out a year ago generated 225
DOL proposes 401(k) fee disclosure guide
The Department of Labor, headed by Thomas Perez, aims to assist plan sponsors understand costs after 2012 regulations pushed for more disclosure. The solution? A fee road map. Skeptics warn the map could be as complicated as the disclosure.
Prepare to be ripped off
The broad investing public isn't exactly riveted by the controversy surrounding the so-called “fiduciary standard,” but they should be.
Finra bonus disclosure rule goes to the SEC
If approved, the Finra rule would require brokers who receive more than $100,000 in incentive compensation to notify clients in writing; some say it could chill recruitment.
SEC to probe whether FX rigging distorted options, ETFs
The Securities and Exchange Commission is investigating whether currency traders at the world's biggest banks distorted prices for options and exchange- traded funds by rigging benchmark foreign-exchange rates, according to two people with knowledge of the matter.
Taking a closer look at tax reform
House Ways and Means Committee Chairman Dave Camp, R-Mich., has proposed sweeping changes to the Internal Revenue Code.
White House budget proposal targets Social Security benefits
President Obama's plan takes aim at strategies used by upper-income claimants to increase their benefits.
Investment adviser lobbyist: Finra will renew effort to become adviser SRO
Regulator is 'playing the long game,' sees advisers as regulatory and revenue opportunity, IAA's Neil Simon says.
Finra's BrokerCheck comes under fire
Database omits bankruptcies, tax liens, and other vital information, lawyers group claims
Musk's next move; brokers fail to report trouble
The Tesla chief wants to get into military satellite launching. Plus, brokers failing to report trouble to Finra, stocks (and Costco earnings) drop, the Citi/Oceanografia plot thinkens, who you should follow on Twitter, and more.
Supreme Court broadens whistle-blower status, mutual fund firms on alert
Rules in favor of Fidelity employees who say they were fired for reporting fraud.
Finra limits data collection plan, citing investor privacy
Bowing to industry concern, Finra says it will limit the personal data it collects in new monitoring program
Former Merrill Lynch broker accused of 18-year Ponzi scheme
A former Merrill Lynch broker already serving a 33-month sentence for securities fraud is back in the hot seat after being indicted for an 18-year Ponzi scheme.
Obama's budget: What advisers need to know
SEC would get funding boost; limits placed on retirement-savings tax breaks for wealthy.
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February 27, 2014