BLURRED LINES.

Robert Jamieson's path to the top of the music industry started with counting vinyl discs on a churning production line in a Queens, New York, warehouse. For a small fee For at least 10 years, the SEC has been cracking down on advisors who fail to tell clients they're being steered into fee-bearing mutual funds when no-cost, nearly identical alternatives are available. As part of Reg BI, the SEC banned pure brokers from holding themselves out to the public as "advisors" or "advisers", a spelling that stems from the original 1940 law regulating the industry. In 2019, 79 advisory firms paid $125 million to settle SEC allegations that they hadn't disclosed to clients the fees they'd be paying. [Extracted from the article]