Bench Trial Ordered for Nationwide ERISA Case
The complaint alleges that Nationwide’s 401(k) plan improperly included an affiliated stable value fund that gave company employees less favorable...
Tag: conflict of interest
SEC Unlikely to Abandon Predictive Analytics Proposal, Says Outgoing Division Director
William Birdthistle, the Securities and Exchange Commission’s current director of investment management, told an IAA conference the SEC will continue...
Gensler Defends SEC’s Predictive Analytics and Conflicts of Interest Proposal
Artificial intelligence still presents unique systemic and compliance risks that are not easily disclosed, he argued.
Senate Bill Would Block SEC Predictive Analytics Proposal
Many industry leaders in retirement planning have called for a full or partial withdrawal of the proposal.
Adviser, Planner Communities Give Qualified Support for Fiduciary Proposal
The highly controversial proposal from the DOL has received support from major industry actors, including the CFP Board and FPA,...
NASAA Proposal of Best Adviser Practices Receives Pushback
Critics say the proposal recommended to states goes beyond the SEC’s Reg BI and endangers annuity products and educational materials.
OMB Begins Holding Stakeholder Meetings for New Fiduciary Rule
The proposal will likely address compensation structures and IRA rollovers, though no draft is available yet.
Does Anyone Support the Predictive Analytics Rule?
Nobody in the investment advice industry seems to, and few and far between appear to elsewhere.
SEC’s AI Proposal Would Negatively Affect Retirement Education Features, Commenters Say
The feedback period for the SEC proposal on artificial intelligence and conflicts of interest closed today, and the feedback has...
Private Fund Adviser Fined $1.6M for Duty of Care Violations
The infrastructure fund allegedly did not disclose conflicts of interest and took actions without regard for their impact on investors.
Scope of AI Conflicts Proposal Finds New Opponents on the Hill
Members of both parties have criticized the SEC’s definition of ‘covered technology’ when it comes to using AI in financial...
DOL Sends New Adviser Fiduciary Rule to OMB for Review
The rule is expected to broaden when investment advice is considered fiduciary advice under ERISA.
SEC Proposal Would Require Elimination of Conflicts When Using AI and Similar Technology
The proposal applies to the use of wide range of technologies, including predictive analytics, that might put the firm’s interests...
FINRA Expels Brokerage SW Financial for Misrepresenting Fees
The brokerage and investment bank was expelled for misrepresenting its fee structure, churning accounts and failing to properly supervise and...
SEC Cites Broker/Dealers for Not Meeting Reg BI Standards
The SEC issued a warning after finding issues, including advisers not properly disclosing conflicts of interest or maintaining written policies.
SEC Proposal Would Restrict Conflicted Asset-Backed Securities
The proposal seeks to implement a provision in the Dodd-Frank financial reform law and would prevent asset-backed security issuers from...
ERISA vista
If Caught Off Guard by a Failure
Advisers can self-correct some violations of PTE 2020-02.
Compliance Consult
Compliance for Wealth Managers
PTE 2020-02 cannot resolve all conflicts of interest.
Sen. Warren Warns DOL About Adviser Conflicts of Interest
The Democratic presidential candidate tells Department of Labor Secretary Scalia she fears the DOL is considering standards of conduct that would permit advisers providing advice on retirement savings...
New Jersey Latest State to Issue Fiduciary Regulations
Brokers who were happy to see a federal-level uniform fiduciary rule rejected by an appeals court last year may now be rethinking their stance as a patchwork of...