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 Texas-based bank selects Raymond James for a $605 million program, while an OSJ with Osaic lures a storied institution in Ohio from LPL.
The Treasury Secretary's suggestion that Trump Savings Accounts could be used as a "backdoor" drew sharp criticisms from AARP and Democratic lawmakers.
Changes in legislation or additional laws historically have created opportunities for the alternative investment marketplace to expand.
Wealth managers highlight strategies for clients trying to retire before 65 without running out of money.
Shares of the online brokerage jumped as it reported a surge in trading, counting crypto transactions, though analysts remained largely unmoved.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
