DOL
DOL Rule Date Ensured, Class-action Lawsuits Take Spotlight
Industry trade groups and consumer advocates focus on the rule’s enforcement mechanism.
UPDATE: With Days to Go, DOL Rule Still Confounds Brokers
Industry executives from giant firms to midgets say they and their brokers are struggling with what’s to come two weeks before the fiduciary rule becomes effective.
Merrill to Unveil Tweaked DOL Plan This Week
New wealth management head Andy Sieg to announce some give Thursday on plan to prohibit commission-based retirement accounts.
Mutual Fund Industry Steps Up DOL Rule Attack, Invoking Brokers
Brokers have abandoned “hundreds of thousands” of small investors in last month out of fear of being sued over retirement-account violations, executive says.
EXCLUSIVE: Morgan Stanley Caps Stock and ETF Commissions
In mid-year change, trading charge cannot exceed 2.5% of a transaction and the $125 minimum “ticket” charge for a stock trade has been eliminated.
Forget About 60 Days, Firms Push for Six-Month Delay in DOL Rule
Raymond James CEO, UBS’s head of managed accounts and others in the industry argue for at least six more months to prepare for rule’s implementation.
ANALYSIS: Merrill’s Sieg Wavers on Retirement Account Policy
Firm uses likely delay in fiduciary rule’s effective date to consider allowing commission-based IRAs in “limited” situations.
Brokerage Industry Rallies Employees to Push for DOL Rule Delay
In an effort to mobilize the “grassroots,” LPL Financial sends its 14,100 affiliated brokers a trade group-coordinated way to instantly send comments.
Merrill Early Mover Gaffe? DOL Policy Prompts 11 NY-Area Departures
Six went Friday to Morgan Stanley, which has flaunted a less restrictive retirement account policy for brokers than has Merrill.
DOL Asks for Two-Month Delay of Fiduciary Rule Applicability
Guided by Trump’s memo urging review of the rule’s economic effects, the start date will now likely be June 9, 2017.
Labor Nominee Acosta Is ‘Blank Slate’ on Fiduciary Rule
Supporters of conflict-of-interest rule are pessimistic about his ability to delay a rollback even if he wanted to.
