The shifting of thousands of investment advisers to state regulation is months away, but the Securities and Exchange Commission is busily laying the groundwork for the transition.
The frustration felt by advisers about the growing wave of regulation and failed attempts to influence policy erupted last week at a town-hall-style meeting in Las Vegas.
Although many federally registered advisers were scrambling to meet yesterday's filing date for the new ADV Part 2 forms, state-registered advisers in several states, including Michigan, Pennsylvania and Texas, were enjoying a bit of a reprieve.
Many financial advisers are finding out that they aren't as fluent in English as they thought
Advisers have an additional four months to prepare “plain English” brochure supplements about their investment personnel thanks to an extension granted by the Securities and Exchange Commission late last month.
McMillan also bemoans pace of reform, saying firms still not sure if they'll be deemed too big too fail
Republicans on the House Financial Services Committee are urging the Securities and Exchange Commission to refrain from imposing a universal fiduciary duty of care for retail investment advice
Republican resistance to imposing user fees on investment advisers in order to fund examinations — and to a universal fiduciary duty for retail investment advice — is slowly emerging on Capitol Hill
Securities and Exchange Commission Chairman Mary Schapiro told a congressional panel last Tuesday that spending reductions of the magnitude sought by Republicans would force the agency to cut back investment adviser examinations substantially
House Republicans want the SEC to halt its fiduciary duty rulemaking. Why? The GOP lawmakers say the commission needs to look harder at the impact of a universal standard of care.
In the wake of the recent SEC report that recommends a universal fiduciary standard for personalized retail investment advice, most attention has focused on the potential impact on broker-dealers
Department pushes back deadline for comments by 15 days
The Labor Department and representatives from service providers and pension advocacy groups sparred last week about whether presenting a retirement plan with a fund lineup constitutes investment advice
The new consumer protection agency won't extend its jurisdiction to areas involving investment advisers or insurance agents, according to a Treasury Department official involved with setting it up
The Securities and Exchange Commission on Friday slapped an adviser and radio personality know as “The MoneyMan” with fraud charges after his firm encouraged clients to invest in promissory notes linked to a company with which he associated.
It is time for the Securities and Exchange Commission to set an even more rigorous net-worth standard for “accredited” investors than the requirements set forth in the Dodd-Frank financial reform law
Commissioner Walter says the regulator will start work in July on capping the marketing fee. This may not sit well with brokers or mutal fund providers.
SEC eyes requiring such funds to establish 'NAV buffer'; idea would trump ICI's plan for liquidity bank
