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 Consumer Federation of America, AFL-CIO, Financial Planning Association and others wrote a letter to the Labor Department calling for a 90-day comment period for its revised fiduciary rule, instead of the current 30-day period, arguing that...
The recipients of loans included Aspiriant and Riskalyze, who were two of the more than 660,000 businesses that received loans of $150,000 or greater, according to Treasury Department data.
The model act is currently open for public comment until the end of the month, and if passed, it would be up to individual states to enact legislation.
Some retirement experts expressed surprise that the DOL's proposed exemption for fiduciaries included any expanded investor protections, but they also cautioned the changes lacked teeth.
The SEC charged Temenos Advisory and its CEO in July 2018 for putting $19 million of elderly clients’ retirement savings into four risky, illiquid private placements, without conducting the proper due diligence or disclosing the risks.
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.