The Court ruled 8-1 in Liu vs. the Securities and Exchange Commission that the practice was allowable provided that the fees did not exceed the "wrongdoer's net profits," according to a majority opinion written by Justice Sonia Sotomayor.
The regulatory agency for broker/dealers has changed language to make clear that its rule would not apply to recommendations covered by the SEC's rule, which will be implemented on June 30.
Jun 22, 2020
Don't sell your practice before answering these three questions!
Five questions (and answers) that may better inform your client communications in the new normal.
The COVID-19 pandemic has highlighted the benefits of planning, with the ensuing market volatility easier to put in perspective when both clients and advisors view it through the lens of a set of future goals.