Some of the industry's largest independent broker-dealers have expressed concern that the Department of Labor's proposed fiduciary rule could have a detrimental effect on the annuity market, reports AdvisorHub. The proposal is called the Retirement Security Rule:...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: February 2024
Advisor leaves Osaic following consolidation and moves to LPL Financial
Veteran financial advisor Cubby Bice has decided to join LPL Financial's broker-dealer, RIA, and custodial platforms, according to WealthManagement. Bice, who is leaving Osaic, reported serving approximately $130 million in advisory, brokerage and retirement plan...
Number of disciplinary actions brought by FINRA reported to be declining
A report compiled by a Washington, D.C. attorney shows a significant decline in disciplinary actions brought by the Financial Industry Regulatory Authority in recent years, AdvisorHub reports. Gary Carleton, a former enforcement lawyer for FINRA and the Securities and...
Reforms set to begin for process of choosing arbitrators for FINRA forums
Beginning next Monday, the process of choosing arbitrators for Financial Industry Regulatory Authority forums will undergo some revisions, AdvisorHub reports. FINRA is making the rules changes in response to an independent review by a law firm, which called for...
Lawmakers urged to fight efforts to block funding for DOL fiduciary rule
Supporters of the Department of Labor's new proposed fiduciary rule are lobbying to prevent the measure from being delayed or defunded, according to WealthManagement. The proposal is called the Retirement Security Rule: Definition of an Investment Advice Fiduciary. It...