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Edelman Financial Engines Appoints DOL Fiduciary Rule Architect Phyllis Borzi to...

Edelman Financial Engines, a registered investment advisor with $200 billion in client assets, has appointed Phyllis Borzi to its board of directors. Borzi, who...

Shareholders Launch Class-Action Lawsuit Against Schorsch-Controlled REIT

Plaintiff Carolyn St. Clair-Hibbard and other shareholders have initiated a second complaint against American Finance Trust Inc (Nasdaq: AFIN), American Finance Advisors, LLC., AR...

SEC Releases Investor Testing Report on Proposed Form CRS Relationship Summary

To help address investor confusion about the nature of their relationships with investment advisers and broker-dealers, the SEC’s Office of the Investor Advocate has...

SEC Investor Advisory Committee to Hold Public Call on Regulation Best...

The Securities and Exchange Commission’s investor advisory committee will hold a public conference call next month to discuss its proposed Regulation Best Interest and...

New Jersey to Propose “Uniform Fiduciary Standard” for Investment Professionals

The New Jersey Bureau of Securities plans to initiate rules to impose a fiduciary duty on all New Jersey investment professionals, requiring them to...

Merrill Lynch Reverses Ban on Commission-Based Retirement Accounts

Merrill Lynch, the wealth management arm of Bank of America, is reversing its ban on commission-based products in customer retirement accounts following the death...

Massachusetts Regulator Blasts SEC Best Interest Proposal, Threatens State Rule

Secretary of the Commonwealth William Galvin, the securities regulator in Massachusetts, has submitted comments to the Securities and Exchange Commission opposing their regulation best...

Merrill Lynch Reconsiders Commission Ban in Wake of Fiduciary Rule Demise

With the demise of the Department of Labor's fiduciary rule, wirehouse Merrill Lynch may reconsider its 2017 policy of banning commissions in retirement accounts,...

Supreme Court Deadline Passes as DOL’s Fiduciary Rule Remains in Limbo

The June 13th deadline for the Labor Department to petition the Supreme Court to hear its case passed without fanfare on Wednesday, as the...

Industry Groups Urge Fifth Circuit to Dissolve DOL Fiduciary Rule

The American Council of Life Insurers and the National Association of Insurance and Financial Advisors sent a letter to the Fifth Circuit Court of...