Republican Rep. Ann Wagner of Missouri has introduced legislation that would create a new standard for advisors that would fall somewhat between fiduciary and suitability requirements. So reports InsuranceNewsNet.
The Michigan Department of Licensing and Regulatory Affairs has fined Creative Wealth Strategies and its principal $120,000 and has ordered the firm to cease operations following an investigation into violation of securities rules. So reports DowntownPublications.
Labor Secretary Alexander Acosta has told Senator Tim Scott, a Republican from South Carolina, that he wants to put a halt to the fiduciary rule in a way that will “stick.” So reports InsuranceNetNews.