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April 5, 2018

These BDs Will Work to a Fiduciary Standard, DOL Rule or Not
Many broker-dealers are forging ahead with changes related to fiduciary standard, regardless of DOL rule’s fate.
Merrill Lynch Gives Up Blocking Former FAs from Arbitration
Wirehouse dropped nine cases seeking to prevent former advisors from Finra arbitration over alleged $400 million in losses.
Commonwealth Lures $263M Advice Practice
Firm was previously affiliated with a broker-dealer on the NPH network, whose assets were acquired by LPL in August.
Ex-LPL FA Barred for Paying Taxes with Client Funds
Former advisor paid off around $124,000 of her own taxes with client money.
FAs Should Take Advantage of 12b-1 Reporting Amnesty
Advisors can avoid additional penalties if they self-report conflicts before June 12.
Insurance Group Re-Opens Comments on Fiduciary Law
Following the defeat of the DOL’s fiduciary rule the NAIC opts for more suggestions on its model law.

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