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.
Advocates say RIAs have little to worry about, yet one opponent accused the DOL of waging an “ideological crusade” and said he’d recommend litigation to his board.
The rule, which takes effect in September, “protects the retirement investors from improper investment recommendations and harmful conflicts of interest,” according to Acting Labor Secretary Julie Su.
The state securities agency is trying to shut down two entities falsely claiming to be wealth management firms operating out of the same building as the agency itself.
The Office of Management and Budget is concluding its final meetings with the rule’s opponents, while House Democrats signaled their support in a letter this week.
