Gallery: Regulation Watch- Nine Proposals Advisors Need to KnowJun 4, 2013
Washington gridlock is helping to ensure that many of the proposed regulations and rules governing the financial advisory industry have been put on hold. For advisors worried about change, that’s good news, at least for now.
“Agencies take a go-slow approach,” says Duane Thompson, senior policy analyst for fi360 and founder of Potomac Strategies. “Things seem to be moving at a glacial pace, so no one’s going to be caught by surprise.”
That said, there are some proposals that will likely be codified before the year is out. FINRA will likely release a final solution for their proposal on disclosing recruitment bonuses by the end of the year, while the Department of Labor is set to rerelease their proposed rule on a fiduciary standard for ERISA accounts. Meanwhile, tax reform and money market reform have also seen some movement in Washington D.C.
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