529 plans

Independent Financial Group, LLC failed to ensure its employees were offering low-cost options to retail customers looking to rollover a 529 plan to another state.

Some firms are voluntarily self-reporting potential supervisory and suitability rule violations.

Compliance input and advisory group submissions are due by Dec. 13th

A handful of government representatives will give advice on 529 plans in the MSRB's Municipal Fund Securities Advisory group.

The program has drawn comparisons to the Securities and Exchange Commission's MCDC.

Transamerica Financial Advisors has agreed to pay $321,167 in restitution as part of a settlement of Financial Industry Regulatory Authority charges that it failed to properly supervise its brokers selling shares of 529 plans.

Kelly Mitchell wants to solidify existing NAST initiatives in the coming year, such as expanding 529 college savings plans.

The Municipal Securities Rulemaking Board assigned muni market veterans to give input on rules and transparency related to municipal fund securities.

The group sent a letter to the Securities and Exchange Commission this week asking for fair dealing rule guidance to be better tailored to 529 savings plans.

The MSRB got a green light for tighter reporting rules for dealers as the regulator starts to monitor the municipal fund securities market.

Examiners found that Mark Stewart Saunders was improperly relying on permission from a customer's daughter.

The new fee would add one more to a slew of fees dealers already pay to the MSRB.

NAST is expected to hire a new executive director as John Provenzano leaves to start a new job as vice president of government relations for Publix Super Markets.