Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
“I wish more of my colleagues and more elected officials, quite frankly, have signed not just the back of a paycheck, but maybe the front of one,” Rep. Ann Wagner said.
Luis Aguilar, former commissioner at the Securities and Exchange Commission, expects the agency to move on a fiduciary standard, especially if the DOL rule stays in place.
"I am not comfortable that the American investing public understands the substantial risks that we face systemically from cyber issues," SEC Chairman Jay Clayton said.
The department said it would not bring claims against advisors or firms who fail to comply with the private-right-of-action portion of the best-interest contract exemption of the fiduciary rule.
Steven Peiken, the new co-head of enforcment, held as much as $9 million worth of stock and William Hinman, the SEC's director of corporate finance, represented big banks and technology companies.
