Diana Britton

The annuity allows for advisors to charge their fees, up to 1.5 percent annual average contract value, without impacting any applicable living benefit or death benefit bases.

The Wells Fargo CEO shouldn't be getting a bonus; he should be removed from his post, said Congresswoman Maxine Waters, chairwoman of the House Committee on Financial Services.

Congressman Sean Casten said the regulator’s testing process is not iterative enough and relies too much on quantitative surveys.  

At a hearing on Wednesday, Maryland-based advisors told personal stories of how the state’s fiduciary bill would adversely impact their practices and their clients.

Tim Sloan would not directly say whether he personally has a fiduciary duty to the bank’s clients.

The regulator’s initiative will result in more than $125 million being returned to harmed investors.

The ETFs will be based on indices developed by brokerage platform Motif.