Many advisers in Massachusetts who moved from SEC oversight to the state last year failed to disclose that they have custody of client assets — a result of poor understanding of custody rules.
One plan would let value of some money funds float, another would impose redemptions.
Di Florio to set up new unit to ID emerging vulnerabilities for investors and markets.
Ohio Securities Commissioner Andrea Seidt is concerned that the Securities and Exchange Commission is getting bogged down.
Back in 2009, regulators predicted that 4,000 investment advisers would shift from SEC regulation to state oversight. They were slightly off.
Median investment adviser under SEC regulation has $270M in AUM, 92 accounts, and eight employees
Borzi offers few details but says re-proposal will cover brokers selling IRAs.
Group wants coordination between SEC and DOL on contentious issue.
If it gets through House, Senate passage unlikely but the idea is out there.
The SEC announced its proposal for crowdfunding rules, but advisers remain extremely wary. With a potential vulnerability for fraud and failed investments, will the due diligence required for crowdfunding outweigh its actual benefits?
