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.
The Department of Labor announced Monday that it would reproprose its rule on the application of the fiduciary standard to retirement accounts. The announcement came after House Financial Services Committee ranking member Barney Frank sent a...
SEC Chairman Mary Schapiro said Thursday that legislation introduced by Republicans to restructure the agency and its rulemaking process would threaten the agency’s ability to write and enforce rules effectively. She also said that the SEC...
For years, stockbrokers have routinely stepped over the regulatory boundary that divides traditional brokerage activities from investment advisory activities. By taking advantage of regulatory loopholes, brokers have been able to offer investment...
It’s impossible to know what the sum of the day’s testimonies, questions and comments will lead to, especially considering that whatever bill emerges would need to also pass a Democrat-controlled Senate. Whatever the outcome, it’...
Considered a win for independent broker/dealers and their advisors, the California state Senate passed a bill Thursday night that tightens rules governing independent contractor status but omits onerous paperwork requirements. The bill now moves...
The House proposed draft legislation Thursday that would allow one or more SROs to oversee all investment advisers. The bill was trotted out by House Financial Services Committee Chairman Spencer Bacchus in advance of a Sept. 13 hearing to review...
Compliance conundrums are growing in the minds of financial advisors mulling independence. An Aite Group survey last spring found that 53 percent saw compliance as extremely challenging or very challenging to independence, compared to just 38...
In November 2009, Dr. Donald Steinberg filed an arbitration claim with the Financial Industry Regulatory Authority alleging a whole host of sins against Morgan Stanley Smith Barney, Citigroup Global Markets Inc. and a broker. Foremost among...
As the baby boomer generation ages, the number of people with Alzheimer’s will climb: an estimated 16 million are expected to suffer from the disease by 2050, up from 5.4 million today, according to the Alzheimer’s Association. One...
Another round in the highly politicized battle over who will oversee investment advisers is brewing. The House of Representatives plans to hold a hearing on Sept. 13 on provisions of Dodd-Frank that govern the regulation of broker/dealers and inv...
