More On Legal & Compliancefrom The Advisor's Professional Library
- 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.
- 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.
The Senate Banking Committee is “tentatively” looking at the week of March 11 for a confirmation hearing with Mary Jo White (left), President Barack Obama’s choice as the next head of the Securities and Exchange Commission, a Senate aide told AdvisorOne Monday night.
Once the Senate Banking Committee has its hearing, the full Senate can confirm her the very next day, or a day later, so White could replace current SEC Chairwoman Elisse Walter by mid-March.
One comment from an SEC official at the SEC Speaks conference in Washington on Friday put Mary Jo White’s presence at the agency at “30 days” away.
Walter declined to give a timeline after her speech at the SEC Speaks event on when a fiduciary rule proposal to put brokers under a fiduciary mandate would be released, stating only that the fiduciary issue was “very important” to her. White’s arrival at the agency puts a big question mark on how the agency will move forward with a fiduciary rule.