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.
One investor group argues the state’s final rule, going into effect March 6, has been significantly weakened to mirror some of the worst aspects of Reg BI. Meanwhile, industry groups are concerned with how fast the rule has been finalized.
The latest Reg BI guidance addressed whether clients can 'waive' the rule's protections, whether affiliated firms can submit separate CRS forms, and whether firms have to build entirely new systems and processes to be in compliance.
Groups such as the Heritage Action for America, FreedomWorks, Americans for Tax Reform and the National Black Chamber of Commerce call the SEC's proposal an "expensive 'solution'" to a "potentially non-existent 'problem.'"
Advocates like As You Sow, Green America and Americans for Financial Reform gathered more than 18,000 signatures in opposition to an SEC proposal that would make it harder for owners to put petitions on corporate proxies.