In response to litigation targeting the fiduciary standard rule, the Department of Labor argues its new regulation is consistent with the law, backed by appropriate research, and is reasonable. So reports InsuranceNewsNet.
With advisors under growing pressure to lower fees while facing increased regulatory costs and the headwind of low interest rates, LPL Financial is reportedly looking for a strategic partner or buyers. So reports Reuters.
Fidelity has become the latest firm to up the ante on the war over fees by eliminating trading commissions on certain BlackRock ETF trades. This comes as the Department of Labor is requiring advisors to act as fiduciaries. So reports CNBC.