The Financial Industry Regulatory Authority says examinations initially will look at whether companies have established procedures to comply with the Securities and Exchange Commission's Regulation Best Interest. In an interview with Financial Services Institute CEO Dale Brown, FINRA CEO Robert Cook said the initial exams will focus on "good faith efforts to comply" and will not be conducted as stand-alone reviews.

The Labor Department's decision to allow only 30 days to comment on a proposed exemption for investment-advice fiduciaries, instead of the customary 60 days, has drawn criticism from lawmakers and public interest groups. Rep. Bobby Scott, D-Va., chairman of the House Education and Labor Committee, and Sen. Patty Murray, D-Wash., ranking member of the Senate Health, Education, Labor and Pensions Committee, have written Labor Secretary Eugene Scalia asking for a longer comment period.

Financial advisors should draw on what they learned from past financial crises to assist clients during the coronavirus pandemic, writes Mitch Anthony of Life-Centered Planning. He offers a step-by-step framework for helping clients gain perspective on their situations and find a way forward.

LinkedIn can be a valuable tool for financial advisors to build a network of people who might do business with them, writes Bryce Sanders of Perceptive Business Solutions. He describes the process he used to add 100 prospects in less than a month.

Coronavirus outbreaks in the US are undercutting a nascent economic recovery, forcing businesses in several states to reduce or re-suspend operations. Commercial foot traffic and restaurant-seating rates have declined, while unemployment has risen in some states.

Emergency lending facilities from the Federal Reserve have accomplished the aim of stabilizing markets, despite modest use of some of them, says Daleep Singh, head of the markets group at the Federal Reserve Bank of New York. The central bank will change its approach if conditions require it, Singh says.

The coronavirus pandemic and resulting economic turmoil have caused many clients to make financial and lifestyle changes that could stick, experts say. These include how they spend and save money and where they choose to live and work.

Low taxes are a key attribute when choosing a place to retire, but other qualities also should be considered, such as weather, amenities and social relationships. Here are five lessons to consider before moving.

Independent financial advisors, their staff and their families can now access true group health insurance through leading insurance carriers for groups of two or more. Vision and dental also available. Go to our website for more details and to get a quote!