Advocates Say DC Plans Should Be Considered ‘Accredited Investors’
Public markets are shrinking, and more of the wealth generated by the U.S. and global economies is locked in private...
Tag: SEC
SEC Seeks to Bring Adviser Advertising Rules into the Digital Age
As one source points out, the SEC’s advertising rules have not been substantively amended since 1961, long before social media and the dominance of the Internet—even before fax...
DOL and SEC Weigh New Proxy Voting Standards
Both the Department of Labor and the Securities and Exchange Commission are revisiting their proxy voting rules, creating an opportunity for greater regulatory alignment.
Protecting Participants: What to Know About Mutual Fund Boards
Mutual fund boards often do a better job of protecting shareholders than corporate boards, one source says, which are potentially...
‘Smart Money’ Says 2nd Circuit Won’t Halt SEC Regulation Best Interest
Advisory firms waiting to see whether the 2nd Circuit will delay or outright halt the implementation of the SEC's Regulation Best Interest are wasting precious time.
Lower Court Says 2nd Circuit Should Decide Regulation Best Interest Lawsuits
It is well-established that clauses containing a specific statutory grant of jurisdiction to the court of appeals should be construed in favor of review by the court of...
Co-Founder of XY Planning on Why His Firm Has Sued the SEC Over Reg BI
The rule blurs the line between advice and sales, potentially hurting both advisers and investors, he says.
PANC 2019: Washington Update
Experts discuss changes that will affect advisers, such as Reg BI, the new Customer Relationship Summary form and the DOL,...
Fiduciary Advisory Firms Sue to Block SEC’s Reg BI
Two advisory firms argue they are harmed by the “best interest” rule because it causes them a competitive disadvantage with respect to broker/dealers, and because the rule will...
State AGs’ Lawsuit Just One Part of Broader Fiduciary Fight
There is an all-out regulatory tug of war going on between consumer groups, the brokerage industry, the states and the SEC.
SEC Complaint Dissects Fee-Based Firm’s Revenue Sharing Strategy
The Securities and Exchange Commission takes issue with revenue sharing tied to a preferred broker’s “transaction fee” program, underscoring how fee-based advisers are not immune from allegations of...
SEC Shakes Up the Proxy Voting Landscape
The Investment Adviser Association says the SEC’s proxy voting guidance will increase costs for advisers and also increase barriers to entry for proxy advisory firms.
Upset in FINRA Board Large Seat Election
Board of Governors candidate-by-petition Chris Flint has defeated the FINRA-preferred candidate Andrew Duff.
FINRA Pledges Resources to Support Members’ SEC Reg BI Compliance
The self-regulatory organization says it will help members implement the SEC's sweeping new conflict of interest disclosure rules.
Compliance Consult
Now Who Is a Fiduciary?
How the SEC's best interest rule could affect plans, IRAs
Meet Your FINRA Board of Governors Large Firm Candidates
A contested election for a seat on the FINRA Board of Governors will be settled at the annual meeting of...
A DOL Secretary Scalia Would Quickly Find Direction
Having served as the DOL Solicitor General under the Bush Administration, experts suggest, Eugene Scalia would likely hit the ground...
Industry Groups Object to Massachusetts Fiduciary Proposal
The Financial Services Institute and the Insured Retirement Institute have both published open letters opining against ambitious conflict of interest regulations proposed in the state.
Investment Managers Share Steps They Take for Compliance
A survey finds cybersecurity is registered investment advisers' (RIAs) highest concern.