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.
Despite a legal challenge and other controversies, implementation for the SEC’s long-awaited Regulation Best Interest is here, and the agency is set to begin examinations and enforcement.
The Department of Labor said the proposed rule would align with the SEC's Regulation Best Interest, while consumer advocates call it as a wishlist for the brokerage industry.
In light of the federal appeals court decision to uphold Reg BI, XYPN says it may take its case to the Supreme Court. Fiduciary advocates also expect more states to take action.
The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. approved changes to the Volcker Rule Thursday that let banks increase their dealings with certain funds by providing more clarity on what’s allowed.