Following an election that resulted in narrow Democratic majorities in the House and Senate, it will be difficult for the U.S. Congress to advance major financial-reform legislation. Therefore, the focus this year will be on the Securities and Exchange Commission, which will have a Democratic majority on its five-member panel during the Biden administration, according to panelists on a Feb. 18 InvestmentNews webinar.
“The primary focus of Congress will be to provide political space for [Biden’s] new regulators to operate and to shine a light on the work the SEC and [Consumer Financial Protection Bureau] can do to make things better for investors and consumers,” said Maryland Securities Commissioner Melanie Senter Lubin.
Ken Bentsen Jr., chief executive of the Securities Industry and Financial Markets Association, and Barbara Roper, director of investor protection at the Consumer Federation of America, were the other two panelists on the one-hour webcast.
[Watch: View the entire one-hour webcast]
Among the topics covered in the wide-ranging conversation were:
A $141M judgment and a federal asset freeze collide over one shrinking pool
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
