Commissioned by the U.S. House Committee on Appropriations, the study confirms views that mandatory arbitration agreements imposed by fiduciary-bound RIAs can unfairly limit clients' ability to seek legal remedies against wrongful actors.
Wells Fargo employees tipped off federal prosecutors last year that managers in the bank’s wealth-advisory units were conducting sham interviews to meet internal diversity mandates.
The SEC said on Friday that Pimco failed to disclose key information to investors about how swaps could impact its PIMCO Global StocksPLUS & Income Fund between 2014 and 2016.