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SEC Charges Advisory Firm and Executives with $75 Million Fraud

The Securities and Exchange Commission has charged two North Carolina-based executives, Gregory E. Lindberg and Christopher Herwig, and their registered investment adviser, Standard Advisory...

DOL Proposes Revised Definition of “Fiduciary”

The Department of Labor has reported in its Spring 2022 regulatory agenda that it plans to reveal its new fiduciary rule proposal in December,...

Annuities Trade Group Sues DOL Over Fiduciary Rule

The Federation of Americans for Consumer Choice Inc., a relatively new trade group that represents insurance agents and annuities sellers, has filed a lawsuit...

Department of Labor Delays Fiduciary Rule Enforcement

The Department of Labor has delayed the implementation of its investment advice rule from December 20, 2021 until February 1, 2022.The DOL's prohibited transaction...

DOL Signals Changes to Fiduciary Rule

The Department of Labor has confirmed in its Spring 2021 regulatory agenda that the Employee Benefits Security Administration plans to make changes to the...

Department of Labor Issues Guidance on Fiduciary Rule

The Department of Labor’s Employee Benefits Security Administration has issued guidance relating to its exemption for investment advice fiduciaries, dubbed Improving Investment Advice for...

DOL Fiduciary Rule Takes Effect Today

The Department of Labor’s Employee Benefits Security Administration has confirmed that its exemption for investment advice fiduciaries, dubbed Improving Investment Advice for Worker &...

Department of Labor Issues Final Fiduciary Rule

On Tuesday, the Department of Labor issued its “fiduciary rule” that governs investment advice for retirement plans after the Office of Management and Budget...

Focus Financial Adds $680 Million RIA

Focus Financial Partners Inc. (NASDAQ: FOCS), a partnership of independent, fiduciary wealth management firms, has added Kavar Capital Partners LLC, a Kansas -based registered...

XY Planning Nixes Supreme Court Challenge of Reg BI, Plans to...

XY Planning Network (XYPN), a membership organization comprised of more than 1,300 independent fee-for-service financial advisors, will not appeal its 2nd Circuit ruling on...

Focus Financial to Buy $1.6 Billion Ohio-Based RIA

Focus Financial Partners Inc. (Nasdaq: FOCS), a partnership of independent, fiduciary wealth management firms, has agreed to purchase Fairway Wealth Management, an Ohio-based registered...

Department of Labor Unveils Proposed Exemption for Investment Advice Fiduciaries

The U.S. Department of Labor has released a new proposed class exemption that would allow investment advice fiduciaries to receive compensation for their advice....

XY Planning Network Considers Further Legal Challenges to SEC’s Regulation Best...

On Friday, the Second Circuit Court of Appeals rejected a lawsuit challenging the Securities and Exchange Commission’s Regulation Best Interest, which goes into effect...

DOL Takes Another Step Towards Revised Fiduciary Rule

The U.S. Department of Labor sent its revised fiduciary rule proposal to the Office of Management and Budget on Monday. A draft of the...

New Jersey Extends State Fiduciary Rule Finalization Amid Pandemic

New Jersey Governor Phil Murphy has signed an executive order to extend various deadlines associated with rulemaking for state agencies, including its proposed fiduciary...

Massachusetts Finalizes State Fiduciary Rule

Secretary of the Commonwealth William Galvin has filed regulations to impose a fiduciary conduct standard in Massachusetts. The new regulations will go into effect...

Bloomberg Plans to Restore DOL Fiduciary Rule if Elected

Former New York City mayor and presidential candidate Michael Bloomberg seeks to restore the Department of Labor’s now-defunct fiduciary rule, according to his recently...

ADISA Comments on Massachusetts Proposed Fiduciary Regulations

The Alternative and Direct Investment Securities Association has submitted a letter to the Massachusetts Securities Division in response to their request for comments on...

Massachusetts Moves Forward with State Fiduciary Standard

Massachusetts Secretary of the Commonwealth William Galvin, the state’s chief securities regulator, has signed off on new regulations that would impose a uniform fiduciary...

SDNY Dismisses States’ Lawsuit Against SEC Broker Advice Rule

The federal lawsuit filed by eight attorneys general against the Securities and Exchange Commission over its broker advice rule has been dismissed by the...