In the Margins
So far, the Department of Labor's fiduciary rule has been a win for Wall Street. Firms are pushing customers toward accounts that charge an annual fee on their assets, rather than commissions that can violate the rule, and such fee-based accounts have long been more lucrative for the industry. In earnings calls, executives are citing the rule as a boon. Read the original story from The Wall Street Journal.
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Fund industry litigators and others are watching an expansive class-action lawsuit filed recently against an interval fund that has been scheduled for liquidation since mid-2023, certain ...
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