Sigma's corporate RIA recommended higher-priced mutual fund share classes that charged 12b-1 fees, the SEC alleges.

Annuity Suitability Working Group hopes to complete revisions in the coming months in time for the NAIC's Fall 2019 National Meeting in Austin, Texas.

Two investors go after their brokers and firms, but this is likely just the beginning of a wave of litigation to come.

Virginia's State Corporation Commission's ban on advisors using mandatory arbitration clauses in advisory contracts went into effect this week, but the rule is likely unenforceable.

The regulator alleges that the firm improperly charged advisory fees on retail accounts that had been inactive at least a year and charged excess commissions on brokerage client investments in unit investment trusts.

Stifel and BMO will pay $2.7 million and $1.95 million, respectively, in penalties.

FINRA claims the firm was late an average two years in disclosing 89 internal reviews or allegations of misconduct over a six-year period.

If the latest lawsuits challenging Reg BI are successful, that could send the Department of Labor back to the drawing board in its effort to recraft a fiduciary rule for ERISA accounts.

The agency will revisit its 'rules that were adopted in the absence of a best interest standard,' said FINRA head Robert Cook.

The network, founded and led by Michael Kitces and Alan Moore, filed suit in New York's Southern District, claiming the SEC's Reg BI would give an unfair competitive advantage to brokers over registered investment advisors.