House Financial Services Releases List of Democrats to Fill Six Subcommittees

Democratic caucus must approve list of ranking and committee members

More On Legal & Compliance

from The Advisor's Professional Library
  • Using Solicitors to Attract Clients Rule 206(4)-3 under the Investment Advisors Act establishes requirements governing cash payments to solicitors. The rule permits payment of cash referral fees to individuals and companies recommending clients to an RIA, but requires four conditions are first satisfied.
  • Differences Between State and SEC Regulation of Investment Advisors States may impose licensing or registration requirements on IARs doing business in their jurisdiction, even if the IAR works for an SEC-registered firm.  States may investigate and prosecute fraud by any IAR in their jurisdiction, even if the individual works for an SEC-registered firm.

Rep. Barney Frank, D-Mass., Ranking Member of the House Financial Services Committee, has announced the Committee’s six subcommittee Ranking Members along with the Democratic members of those committees. These recommendations, the committee notes, will be forwarded to the Democratic Caucus for final approval.

The Subcommittees’ make-up is as follows:

Subcommittee on Capital Markets and Government Sponsored Enterprises:

Maxine Waters of California, Ranking Member

Gary Ackerman (NY)

Brad Sherman (CA)

Ruben Hinojosa (TX)

Stephen Lynch (MA)

Brad Miller (NC)

Carolyn Maloney (NY)

Gwen Moore (WI)

Ed Perlmutter (CO)

Joe Donnelly (IN)

Andre Carson (IN)

Jim Himes (CT)

Gary Peters (MI)

Al Green (TX)

Keith Ellison (MN)

Subcommittee on Domestic Monetary Policy and Technology:

William Lacy Clay of Missouri, Ranking Member

Carolyn Maloney (NY)

Gregory Meeks (NY)

Al Green (TX)

Emanuel Cleaver (MO)

Gary Peters (MI)

Subcommittee on Financial Institutions and Consumer Credit

Carolyn Maloney of New York, Ranking Member

Luis Gutierrez (IL)

Mel Watt (NC)

Gary Ackerman (NY)

Ruben Hinojosa (TX)

Carolyn McCarthy (NY)

Joe Baca (CA)

Brad Miller (NC)

David Scott (GA)

Nydia Velazquez (NY)

Gregory Meeks (NY)

Stephen Lynch (MA)

John Carney (DE)

Subcommittee on Insurance, Housing and Community Opportunity

Luis Gutierrez of Illinois, Ranking Member

Maxine Waters (CA)

Nydia Velazquez (NY)

Emanuel Cleaver (MO)

William Lacy Clay (MO)

Mel Watt (NC)

Brad Sherman (CA)

Michael Capuano (MA)

Subcommittee on International Monetary Policy and Trade

Carolyn McCarthy of New York, Ranking Member

Gwen Moore (WI)

Andre Carson (IN)

David Scott (GA)

Ed Perlmutter (CO)

Joe Donnelly (IN)

Subcommittee on Oversight and Investigations

Michael Capuano of Massachusetts, Ranking Member

Stephen F. Lynch (MA)

Maxine Waters (CA)

Joe Baca (CA)

Brad Miller (NC)

Keith Ellison (MN)

Jim Himes (CT)

John Carney (DE)

Reprints Discuss this story
This is where the comments go.