Regulatory & Compliance (359)
7% of Advisors Have Faced Disciplinary Action: Study
- Saturday, 20 August 2016
- Regulatory & Compliance
- Written by PFA News
A study by the Booth School of Business has concluded that advisor misconduct is “pervasive” and that 7% of advisors have faced disciplinary action, says Amit Seru, a professor of finance at the school and one of study’s authors. So reports The Week. Read more...
Treasury Department Eyes Limits on Estate Tax Avoidance
- Saturday, 06 August 2016
- Regulatory & Compliance
- Written by PFA News
The Treasury Department has proposed new rules that could limit strategies that wealthy individuals and families use to avoid having their estates hits with a 40% death tax rate. So reports The Washington Post. Read more...
Broncos’ Quarterback, Other Athletes Victims of Advisor Scam
- Friday, 22 July 2016
- Regulatory & Compliance
- Written by PFA News
The Securities and Exchange Commission has frozen the assets of investment advisor Ash Narayan, who is accused of swindling $30 million from Denver Broncos quarterback Mark Sanchez, San Francisco Giants Pitcher Jake Peavy, and Colorado Rockies pitcher Roy Oswalt. So reports Complex. Read more...
Industry Groups Keep Fighting DOL Fiduciary Rule
- Friday, 22 July 2016
- Regulatory & Compliance
- Written by PFA News
A group of industry organizations has filed litigation seeking to kill the Department of Labor’s fiduciary rule after efforts by the House of Representatives last month fell short of accomplishing the same goal. So reports CNBC. Read more...
SEC to Scrutinize Advisors’ Fee Disclosures
- Sunday, 10 July 2016
- Regulatory & Compliance
- Written by PFA News
In a recent report to Congress, Securities and Exchange Commission Investor Advocate Rick Fleming says enhancing service providers’ fee disclosures will be a priority for fiscal year 2017. So reports MarketWatch. Read more...
SEC Fiduciary Rule Won’t Happen During Obama Presidency
- Sunday, 19 June 2016
- Regulatory & Compliance
- Written by PFA News
The Securities and Exchange Commission is unlikely to adopt a uniform fiduciary standard prior to the end of the Obama presidency. In the meantime, the regulator will observe the Department of Labor’s fiduciary rule, says SEC Chief Mary Jo White. So reports ThinkAdvisor. Read more...
Senator Warren Seeks Update on Reigning in Broker Misconduct
- Friday, 13 May 2016
- Regulatory & Compliance
- Written by PFA News
In the aftermath of a BrokerCheck study that concluded 1 in 13 advisors have tainted histories, Senator Elizabeth Warren (D-Mass.) is asking the Financial Industry Regulatory Authority to disclose plans for curtailing broker misconduct. So reports ThinkAdvisor. Read more...
Advisor Kept Ponzi Scam Going for 10+ Years
- Friday, 13 May 2016
- Regulatory & Compliance
- Written by PFA News
Claus Foerster, of Spartanburg, N.Y., convinced clients to transfer assets from their accounts to his own account to get access to fictitious investments, and he then spent the money for his personal needs, according to a press release from United States Attorney Bill Nettles. So reports WYFF4.com.
Read more...Obama Expected to Block Effort to Kill Fiduciary Standard
- Saturday, 30 April 2016
- Regulatory & Compliance
- Written by PFA News
President Barack Obama has threatened to veto legislation recently passed by the U.S. House of Representatives that would repeal the Labor Department’s Fiduciary rule. So reports Wealth Management. Read more...
Excessive Fee Lawsuit Rejected By Appeals Court
- Sunday, 17 April 2016
- Regulatory & Compliance
- Written by PFA News
A lawsuit alleging that Edison International improperly favored high-fee funds for its 401(k) plan has been rejected by 9th U.S. Circuit Court of Appeals in San Francisco. The U.S. Supreme Court had previously ruled that the litigation must be reheard. So reports Reuters. Read more...
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