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Investing apps allow investors to trade securities and share those strategies with like-minded traders. Regulators may need to consider whether they're also providing investment advice.
Carson Group Excell conference whets the appetite of advisers looking for fee-based insurance products.
Securities and Exchange Commission Chairman Gary Gensler said his agency will determine when digital engagement practices used by online platforms cross the line into investment advice.
The rule goes 'significantly beyond' suitability, and firms should give their reps the tools they need to 'identify, disclose and mitigate conflicts prohibited under Reg BI,' Gurbir Grewal said.
Rep. Ann Wagner, R-Mo., raised concerns about what Gensler's recent hiring of Barbara Roper means for the future of the Regulation Best Interest standard of conduct.
'A lot of smaller RIAs don’t understand the magnitude of the work necessary to comply by December,' said Brad Campbell, a former assistant Labor secretary.
A new study by the Institute for the Fiduciary Standard asserts the document blurs the line between advisers and brokers.
Regulators said brokerages should not only tell reps what Reg BI says but provide examples of how to meet its requirements.
The network is prodding the SEC to force brokers to register as advisers if they give advice, provide financial planning or hold themselves out as advisers.
The more individually tailored a communication to a customer is, the more likely it is a recommendation, SEC Commissioner Allison Herren Lee said during the NASAA fall meeting.
What the ancient Greek philosopher Aristotle can teach us about communicating a fiduciary standard of care.
Even before drawing her first government paycheck, Barbara Roper has influenced how the SEC under Gary Gensler is approaching Regulation Best Interest.
The agency could be on the path toward clarifying whether online trading platforms are giving investment advice. The examination will also consider potential conflicts of interest between brokers and investors.
The Retirement Plan Exchange, which uses TAG Resources, is designed to reduce administrative headaches related to providing a plan.
The enforcement action centered on a decision in April 2019 to replace third-party ETFs in approximately 20,000 automated accounts with funds sponsored by the firm’s parent company, Social Finance Inc.
The pop superstar's plea to end her 13-year conservatorship raises questions around its validity and prompts experts to rethink the whole system.
Preliminary research results indicate there's a strong correlation between genuine leaders and authentic fiduciaries.
The agency charged 21 investment advisers and six brokerages with missing delivery or posting deadlines. The customer relationship summary outlines fees, services and potential conflicts of interest and is supposed to help clients understand business practices.
The SEC has been intense about ESG and wait-and-see on Reg BI. But new Enforcement Director Gurbir Grewal supported New Jersey's fiduciary rule and may put teeth in the broker advice standard.
Legislation introduced by Reps. Anthony Gonzalez, R-Ohio, and Gregory Meeks, D-N.Y., would lift restrictions on closed-end funds' investments in unregistered securities.