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Paying Employees for Travel Time.

Employers generally are not required to compensate employees for time spent traveling to and from work, but when an employee travels for work then employers need to be more careful. READ MORE
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Labor Secretary Acosta Concedes Fiduciary Rule Cannot Be Legally Stopped Before June 9th

This means firms and financial advisors dealing with retirement accounts need to be compliant and communicate their changes to clients in just a few weeks. READ MORE
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DOL's Persuader Rule To Be Gone

Media outlets are reporting that the Department of Labor (DOL) officially is moving to drop its “persuader rule” that would have imposed significant reporting requirements on companies and ...
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GOP Leaders Say Labor Law Will Survive Challenge

The Kentucky State AFL-CIO and Teamsters Local 89 filed a lawsuit Thursdayasking a judge to block the law's enforcement. The measure, enacted in January, bans labor unions from collecting ...
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Sixth Circuit: Class Action Waivers In Employment Arbitration Agreements Violate NLRA

Court joins Seventh and Ninth Circuits in holding that employer’s requiring employees to waive class and collective action procedures as a condition of employment is unenforceable, but issue ...
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Nuisance Patent Suits Could Decline After TC Heartland

The U.S. Supreme Court’s ruling last week in TC Heartland L.L.C. vs. Kraft Foods Group Brands L.L.C. is expected to lead to a reduction in the number of nuisance patent litigation lawsuits filed ...
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CFTC strengthens rules to protect whistleblowers

Under the amendments to the agency’s whistleblower program — which was established in 2010 by the Dodd-Frank Act — the CFTC and whistleblowers can now bring actions against an ...
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Leon Cooperman's Hedge Fund Settles Insider Trading Case

When securities regulators sued the hedge fund manager Leon G. Cooperman last year, accusing him of violating insider trading laws, he vowed to fight to the bitter end. His decades-long reputation on ...
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FINRA Considering Merging Enforcement Program

FINRA is considering combining two of its enforcement programs to better streamline its processes. Currently, FINRA has two separate enforcement programs, one in its member regulation group, which ...
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With Days to Go, DOL Rule Still Confounds Brokers

Large and small firms, meanwhile, are still struggling with how to ensure that their brokers don’t get entangled in reverse-churning charges from regulators by putting customers into fee-based ...
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With $25 million in funding, Prumentum Group is building a "hybrid robo" wealth manager

A new wealth management startup called Prumentum Group is coming to market with a unique value proposition, looking to combine the technology chops of a roboadvisor with the human touch of a ...
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Colorado Proposes New Cybersecurity Rules For Financial Advisers

The Colorado Division of Securities released a set of proposed changes to the Colorado securities laws that would, if adopted, impose strict cybersecurity requirements on investment advisers and ...
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CFTC Cracks Down on Arizona Racket After $13m Commodities Pool Scheme

The CFTC has cracked down on an illegal commodity pool racket in Arizona, after Cory Williams and his company, Williams Advisory Group, defrauded forty investors out of at least $13.0 million, ...
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CFTC seeks comment for simplifying rules

The comment period will be part of an agency-wide review of CFTC rules, regulations and practices, the CFTC said in a news release. Read On
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Adviser pocketed $60K from unsuitable annuity replacements

An adviser whose former clients have won nearly a half-million dollars in settlements was charged by FINRA with unsuitable advice, misrepresentation and falsification of records. Read On
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FINRA board to consider crackdown on high-risk brokers, unpaid arbitration awards

The board of FINRA will address two nettlesome issues for the broker-dealer self-regulator: brokers with disciplinary histories who keep resurfacing in the industry and brokerages that fail to pay ...
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LPL Fined $1M Over Credit Union Rep Failures

Massachusetts securities regulators fined independent broker-dealer LPL Financial $1 million for failing to supervise financial advisors working in Digital Federal Credit Union branches. Read On
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Inside The Employment Agreement Of Secretive Hedge Fund Renaissance Technologies

Magerman recently sued Renaissance Technologies' co-CEO, Robert Mercer, for wrongful dismissal. Magerman filed his Renaissance Technologies 2015 employment agreement together with his complaint. ...
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Some broker-dealers changing indexed-annuity compensation due to DOL fiduciary rule

Some firms that currently allow advisers to report indexed-annuity sales as outside business are considering bringing it in-house to better monitor their brokers, control risk and potentially take a ...
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US firms in uncharted waters over looming EU requirement to unbundle research

U.S. broker-dealers are facing daunting challenges ahead of a European Union requirement (here) that compels asset managers to strip out payment for research, by either pushing the costs directly on ...
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CFTC Adds 71 New Forex and Binary Options Brands to its 'RED List'

The U.S. Commodity Futures Trading Commission (CFTC) today updated its caution list, the ‘RED List’, in which it warns the public against unauthorized FX and binary options firms that are ...
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Hedge Fund Sues Former Chinese Billionaire Guo Wengui For $88 Million Amid Interpol Red Notice

Hedge fund Pacific Alliance Asia Opportunity Fund sued Guo in New York state court in Manhattan, claiming Guo owed the hedge fund $88 million. Read On
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FINRA Solicits Comments on Rules Impacting Capital Formation etc.

In what seems to be a bow to the Trump Administration, FINRA has issued Regulatory Notice 17-14 which broadly seeks comments on FINRA rules that impact capital formation. Specific rules FINRA is ...
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FINRA Revises Its Sanction Guidelines

By way of explanation, the sanction guidelines do not stipulate fixed punishments or penalties for violations of the FINRA rules. Instead, the premise of the sanction guidelines is that FINRA ...
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