Legal

While the DOL has announced that it will re-propose its fiduciary rule by this August, most industry insiders think that the recrafted regulation will come out at the beginning of 2015.

Five former aides to Bernard Madoff who spent decades working for his firm were found guilty of helping run the biggest Ponzi scheme in U.S. history, a $17.5 billion fraud exposed by the 2008 financial crisis.

The Financial Industry Regulatory Authority announced Monday that it has fined LPL Financial LLC $950,000 for supervisory deficiencies related to the sales of alternative investment products, including nontraded real estate investment trusts.

Detroit Emergency Manager Kevyn Orr said time is running out for creditors to reach an agreement with the city on a plan to resolve the biggest U.S. municipal bankruptcy.

The Louisiana Supreme Court has ruled that the city of New Orleans must pay $17.5 million for its 2012 share of the city fire departments pension fund.

All sorts of changes are in the works including the evolving nature of fiduciary responsibility, the impact of Obamacare on retirement and the likelihood of upcoming DOL regulations.