The Fifth Circuit Court of Appeals argues the Department of Labor lacked the statutory authority to promulgate the rule; a major victory for the brokerage industry.

Accessing independent, fundamental research in support of your investment decisions meets a fiduciary “duty of care” standard, yes, but it also impresses clients and prospects.

The New York Department of Financial Services is looking to do what the Trump administration has put on hold.

The organization said direct dialogue with the SEC and the agency’s public comments points in that direction.

Despite the delay, the Department of Labor's fiduciary rule is and has been in effect since June.

Regulators need to put forward a unified definition of fiduciary duty so that investors and advisors can have a fully informed debate on the matter.

The rule, if approved by OMB, would delay the Jan. 1 applicability date of the fiduciary rule until July 1, 2019.

Firms should focus on two key areas to create a unified approach to compliance and risk—surveillance monitoring and the design and control of investments.

The SIFMA organization formally voiced concerns to the state’s securities division.

“You can’t put one hat on when you’re talking about 50 percent of your assets and another hat on when you’re talking about another 50 percent. It makes no sense,” said SEC Chairman Jay Clayton.