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Levitt: End of Merrill rule good for investors
Broker and advisers should come under the same regulatory umbrella, said former Securities and Exchange Chief Arthur Levitt, speaking in Phoenix yesterday.
Keep Merrill rule’s safeguards, say groups
Financial service professionals who provide portfolio management, asset allocation and financial advice should be regulated as investment advisers, six organizations said in a letter to Securities and Exchange Commission Chairman Christopher Cox.
FPA hopes to leverage court ruling
The Financial Planning Association is hoping that the U.S. Court of Appeals ruling overturning the broker-dealer exemption rule will jump-start the trade group’s initiative to reach out to large financial services firms.
‘Trigger event’ often spurs clients
Nearly half of all people who have a financial adviser got into that relationship due to a specific “trigger event,” according to a soon-to-be-released report from the Investment Company Institute.
Court rejects broker-dealer exemption rule
The U.S. Court of Appeals for the District of Columbia Circuit on Friday overturned the Securities and Exchange Commission’s broker-dealer exemption rule in a 2-1 decision.
Financial planning shows explosive international growth
The growth of the financial planning profession overseas is in the fast lane, though there are some speed bumps, observers say.
Canadian SRO pressuring gadfly on complaint data
OTTAWA — A tussle has erupted over what to do with complaints against more than 2,000 brokers that the Investment Dealers Association of Canada inadvertently posted on its website.
Cost basis reporting not as simple as it appears
WASHINGTON — Be careful what you wish for with regard to cost basis reporting, as it might cause a headache of colossal proportions.
