Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
The Federal Trade Commission's move to outlaw these clauses in contracts could affect millions of Americans. But litigation against the ban is already in motion.
The brokerage regulator argued the firm’s automated process for approving options traders on its self-directed platform missed instances where clients submitted applications with conflicting information.
Advocates say RIAs have little to worry about, yet one opponent accused the DOL of waging an “ideological crusade” and said he’d recommend litigation to his board.
The rule, which takes effect in September, “protects the retirement investors from improper investment recommendations and harmful conflicts of interest,” according to Acting Labor Secretary Julie Su.
The state securities agency is trying to shut down two entities falsely claiming to be wealth management firms operating out of the same building as the agency itself.
