Opponents say the measure known as the PRO Act, could negate independent-contractor agreements between advisers and financial firms.
The Spark Institute's standards build upon DOL cybersecurity guidance to provide more clear-cut practices designed to defeat retirement account fraud.
The financial technology platform, which provides financial advisers with access to alternative investments, saw its valuation top $800 million with the funding round led by WestCap.
The seed round also featured other prominent participants like founder of Barstool Sports Dave Portnoy and New Enterprise Associates managing general partner Tony Florence.
New report shows financial adviser conference attendees are less impressed with sponsor status than they are with solid content from those sponsors.
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