Displaying 11 results
Industry, investor advocates square off in comment letters about DOL advice rule
Battle lines drawn again as trade associations call on DOL to withdraw proposal, while proponents say measure fills a regulatory gap.
Industry opponents call on DOL to withdraw retirement advice proposal
On day one of public hearing, critics argue potential new measure will alienate some clients and is 'overbroad, unnecessary and inconsistent.'
Brokerage industry applauds, PIABA criticizes approval of remote inspection proposals
'It's supervision by Zoom,' PIABA says, while Finra says the new rules reflect hybrid work arrangements while protecting investors.
Provisions to kill DOL fiduciary proposal add to uncertainty
The Department of Labor stopped another financial industry attempt to slow the measure by declining to extend the public comment deadline of Jan. 2.
Giant bank goes old school as hack bites
Regulators, governments try to assess fallout as suspected Russian cyberattack creates mayhem.
Industry, investor advocates oppose key parts of SEC mutual fund reform
The SEC has proposed using swing pricing and a hard close for share purchases to protect investors during market meltdowns. Critics warn changes could ruin mutual funds.
SEC meets strong industry resistance on advisor outsourcing proposal
Critics say the measure's due diligence and monitoring requirements for third-party providers of portfolio management and other services are unnecessary given advisors' fiduciary duty.
Gensler says final rule on climate disclosure is not imminent
In an appearance at SIFMA's annual conference, the SEC leader declined to provide a timeline for final regulations on his broad agenda.
Advisers, brokers to continue paying Tennessee tax
The state imposes an annual $400 levy, the so-called privilege tax, on members of certain professions who do business in the state.
Lawmakers, trade groups seek more time to comment on SEC proposals
Most SEC rule proposals under Chairman Gary Gensler have had only 30-day comment periods, said GOP Rep. Patrick McHenry and Sen. Patrick Toomey.
Trade groups step up fight against bill they say threatens independent advisers
Opponents contend the measure, known as the PRO Act, could negate independent-contractor agreements between advisers and financial firms.
