Using DOL as cover, Bank of America cuts the Merrill Lynch bull as it adds a robo, stops paying brokers to stick around and kicks John Thiel upstairs
The Charlotte, N.C.-based lending giant bagged the Wall Street beast in 2009 when the price was right -- now it's cutting off its traditional food supply
|October 18, 2016 — 10:41 PM UTC|
The short scoop on Wall Street's claim that the DOL rule is too long
The core of the Labor Dept's rule is 237 words; blame the prolix portion on exemptions accorded to complainers' interests
|July 19, 2016 — 6:53 PM UTC|
DOL rule still has feet tangled in the struggle to define difference between 'suitability' and 'fiduciary'
Fiduciares keep flunking a definition of useful accountability and the giant brokerage lobby keeps exploiting its 'F'
|June 27, 2016 — 6:26 PM UTC|
Why SIFMA & Co.'s trip to a friendly North Texas court to upend the DOL rule looks more like its Alamo
Little credence is being afforded anti-DOL rule crowd that is trying to flip the script on who is screwing whom
|June 6, 2016 — 9:47 PM UTC|
How the DOL brought the IRS wolf to the RIA door with its 'rule' -- think IRAs
The Internal Revenue Service was always the IRA cop for individuals but now advisors may answer to the tax man
|May 13, 2016 — 10:19 PM UTC|
DOL glows and Invesco glowers over $10 million settlement of alleged ERISA infraction
Labor Department's Phyllis Borzi praises Invesco Trust Company for 'stepping up' but the Atlanta fund company says it did nothing wrong and was merely extracting itself from DOL overreach
|May 3, 2016 — 7:34 PM UTC|
Don Trone's 7 reasons why the DOL rule is flawed to the point of 'folly'
Hurling jabs at opponents and proponents alike, the fiduciary maven says both sides failed to recognize and incorporate the role of RIAs
|April 15, 2016 — 5:40 PM UTC|
A veteran of securities law killed his weekend reading all 1,000 pages of the DOL rule -- and has a takeaway to share
Despite reassuring words, the rules steer ill-done-by investors down that dark alley of FINRA arbitrations where complaints go to die
|April 13, 2016 — 9:30 PM UTC|
How Wall Street emasculated the DOL rule with an old-fashioned end game: 'Somebody made a deal' -- and why tort lawyers are licking their chops
End-game style politics exposed fiduciaries' lack of playoff experience, but RIAs can console themselves because DOL exposed shady dealings on 'the dark side'
|April 7, 2016 — 3:10 PM UTC|
The DOL's final rule contains a litany of 11th hour concessions to brokers that show Wall Street lobbyists earned their keep
12(b)1 fees, variable annuities and proprietary products are all still allowed and so is partiality in the sales process
|April 6, 2016 — 10:00 AM UTC|