Shifting oversight of more RIAs from the SEC to states would increase exam coverage at less cost than establishing third-party reviewers, according to a new report. <i>(See also: <a href="//www.investmentnews.com/article/20131030/FREE/131039989"" target=""_blank"" rel="noopener noreferrer">After 'the switch' in 2012, state regulators pounced</a>)</i>
As Illinois pushes ahead with its automatic retirement savings account program, the Financial Services Institute argues the savings plans pose competition to advisers and will work to discourage other states from following suit.
Finra chief Richard Ketchum says industry groups like SIFMA are overlooking the investor protection benefit of Finra's controversial data-collection proposal.
Despite potentially lower costs and better outcomes for investors, broker-dealers are taking a cautious approach to a product that could slash their revenue.
In a preliminary decision, the Securities and Exchange Commission has rejected applications for nontransparent ETFs from BlackRock, Inc. and Precidian Investments, determining that the proposals are not in the public interest.
SEC investor advocate Rick Fleming sees adviser oversight as a top priority, but says the SEC itself should continue to conduct adviser exams.
<b>Game Changers: Dealing with Dementia</b> Cognitive decline doesn't just rob the elderly of their mental capacity. Advisers and their firms often are left adrift, forced to make crucial decisions affecting the financial affairs of elderly clients.
Comes on heels of another $200,000 penalty last year for missing a stock-fraud scheme
The SEC is reviewing whether conflicts of interest led the firm to sell certain products to individual clients.
After learning lessons from Superstorm Sandy, firms are planning ahead with staff and clients, expecting days of potential power outages and working remotely.
Regulators are using troves of digital information to monitor broker-dealers
American Realty Capital Properties Inc.'s former chief accounting officer alleges the ex-chairman ordered numbers to be changed.
Massachusetts regulator has launched an investigation into Realty Capital Securities, the wholesaling broker-dealer arm of Nicholas Schorsch's nontraded REIT empire. (<b><i>Also: <a href="http://www.investmentnews.com/article/20141105/FREE/141109957/schorsch-remains-confident-in-his-empire" target="_blank">Schorsch remains confident in his empire</a>)</b></i>
Big real estate company, until recently led by Nicholas Schorsch, hires Korn Ferry, launches search for new CEO, chairman.
Firm sets aside more than $12 million in light of enforcement actions from the SEC, Finra and Treasury Department.
House Republicans who oversee the SEC told the agency to do a better job of regulating investment advisers — and to do it without a significant budget increase.
Though new board has wide support among state regulators, GOP senator cries foul over infringement of states' rights.
With Congress adjourned, rejected bills, such as one facilitating insurance agents' ability to practice in multiple states that was blocked by Sen. Tom Coburn, will need to be reintroduced next year.
Senate OKs legislation to make it easier for insurance agents to become licensed to sell insurance in multiple states.
