Legal

FINRA has fined MetLife Securities $20 million and ordered the firm to pay $5 million to variable annuity customers for allegedly misleading them on replacement applications.

When Congress passed the Wall Street Reform and Consumer Protection Act (aka Dodd-Frank) in the summer of 2010, it neither reformed Wall Street nor protected consumers. Indeed, it did worse.

Drinker Biddle & Reath's Fred Reish and Brad Campbell explain the contract they call BIC Lite--while level-fee advisors can avoid the contract, they will have to document exactly why a rollover recommendation serves an investors best interest.

If we get sued, well be ready for it, DOL Sec. Perez said about the fiduciary rule in a press conference with Democratic leaders in the House of Representatives.

The U.S. House of Representatives passed a resolution of disapproval of the Department of Labors fiduciary rule today.

Here are 8 FAQs on the DOL fiduciary rule for advisors to 401(k) sponsors, from a larger fact sheet released by The Principal and Groom Law Group.