As the Financial Industry Regulatory Authority Inc. begins its sixth year of existence, the perception of its relationship to the market it oversees has taken on new importance. Its self-description as an “independent regulator” has drawn new scrutiny in recent months, after legislation that would establish one or more self-regulatory organizations for investment advisers was introduced in the House. Finra is lobbying fiercely on behalf of the bill and covets the role of the adviser SRO.
A major law firm has pitched the Labor Department a program that would let broker-dealers and other service providers admit to and fix their fee disclosure errors without incurring the wrath of the agency.
If elected, Mitt Romney says he will cut out all investment taxes on the middle class. Great news for advisers, right? Right?
Massachusetts has filed a complaint against a midsize adviser for allegedly misstating assets under management.
June 28 is the day for advisers managing $25M-$90M to sign on for state oversight
In the first presidential debate on Wednesday night, Republican presidential nominee Mitt Romney did something that he's resisted since he began his quest for the White House 18 months ago. He embraced his Inner Massachusetts. That moved him to the political center, where investment advisers reside.
Say debate clearly won by the Republican presidential candidate; 'extremely strong'
Ever since the Dodd-Frank financial reform law was enacted, Capitol Hill Republicans and the financial industry have insisted that the Securities and Exchange Commission and other regulators carefully measure for the potential impact of new rules on the markets. Industry was not alone in traveling the cost-benefit-analysis highway this week. Fiduciary advocates demonstrated that it is a two-way street.
The SEC is actively reviewing advisers' ADV forms. What's the commission looking for? Tarted up claims, including inflated education or professional credentials.
Transition from SEC rule doesn't require outside help, just effort; fiddling with AUM
Albridge survey shows most brokerages fork out 10% of revenue on oversight
The SEC says it is targeting senior management in its reviews of brokerages and advisory firms.
Democrats and Republicans are headed for a big blowup over taxes — and the treatment of capital gains could be what sets them off.
