More On Legal & Compliancefrom The Advisor's Professional Library
- Recent Changes in the Regulatory Landscape 2011 marked a major shift in the regulatory environment, as the SEC adopted rules for implementing the Dodd-Frank Act. Many changes to Investment Advisers Act were authorized by Title IV of the Dodd-Frank Act.
- RIAs and Customer Identification Just as RIAs owe a duty to diligently protect their clients privacy and guard against theft, firms also play a vital role in customer identification. Although RIAs are not subject to an anti-money laundering rule, securities regulators expect advisors to address these issues in their policies and procedures.
The Coalition for Indexed Products filed suit on January 16 in a Federal appeals court against the Securities and Exchange Commission over its December 17 decision to regulate equity indexed annuities as securities rather than insurance products. The coalition, a group of eight major insurance companies that issue fixed index annuities, including Allianz Life Insurance Co. of North America, charges in the suit that the SEC overstepped its authority in its ruling. That was the expressed position of SEC Commissioner Troy Parades when he cast the lone dissenting vote on December 17.
For further information on the suit and the ruling, please click here to view a news story from our sister company, National Underwriter