Senator Warren ups ante by calling for SEC investigation of firms opposing DOL fiduciary

April 1, 2016

Prominent Wall Street critic says four firms may be violating securities laws by sending misleading signals to investors about the rule’s impact on business

Mar 31, 2016 @ 1:42 pm | By Mark Schoeff Jr. | Investment News

Sen. Elizabeth Warren, D-Mass., is calling for a Securities and Exchange Commission investigation of financial firms she says are making contradictory statements about a Labor Department investment advice rule.

In a letter Thursday to SEC Chairwoman Mary Jo White, Ms. Warren said executives from four insurance companies — Lincoln National, Jackson National Life Insurance Company, Transamerica andPrudential Financial — have both criticized the DOL measure as “unworkable” and harmful to their firms and separately told investors they will be able to adjust to the rule and continue to be profitable.

The firms may be violating securities laws by sending misleading signals about market factors that could affect their earnings and stock prices, according to Ms. Warren.

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Second Annual Blue Vault Broker Dealer Educational Summit 2016
2016 Broker Dealer Educational Summit 2016
May 30, 2016

Best Due Diligence meeting in the industry. No sales pitches, senior level decision makers, meaningful discussions and the Broker Dealer networking sessions were especially useful. Thanks to Blue Vault for raising the bar!