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.
A new alert from the commission’s Division of Examinations found that many RIAs are miscalculating fees and often overcharging clients, risking enforcement actions.
During a panel discussion on the new rule’s impact, one securities attorney said the DOL's interpretation on what recommendations fell under ERISA fiduciary scrutiny was “more expansive” than ever.
Despite Reg BI's implementation, many broker/dealers continue to operate as they did under the suitability standard, according to a new NASAA report. But the group is advocating additional guidance in lieu of amendments to the SEC’s rule.