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The DOL is working to issue a final fiduciary rule by May 2016, while industry experts wonder about the effect of Elizabeth Warren's letter on the DOL rulemaking.

In proposing its own universal fiduciary standard, SIFMA says that a DOL proposal would lead to investor confusion.

All in, the Department of Labors proposed fiduciary rule would mean between $2.4 billion and $5.7 billion in compliance costs for the financial services industry over 10 years.

A whistleblower at Paradigm Capital Management, an Albany, New York-based provider of mutual funds marketed to fee-based RIAs, and institutional separately managed accounts, has been awarded a more than $600,000 reward from the Securities and Exchange Commission.

BlackRock Inc. agreed to pay $12 million to settle regulatory claims that it failed to disclose a conflict of interest of a top portfolio manager.

Less than one-half of the very substantial private equity costs to public pension funds are being disclosed.

In 2011, the Securities and Exchange Commission published a study, mandated by the Dodd-Frank Act, which concluded that all financial advisers and stock brokers should be placed under a uniform fiduciary standard.

Thirty percent of investors think their brokerage firms don't charge annual service and maintenance fees, although almost all of them do.