More On Legal & Compliancefrom The Advisor's Professional Library
- Pay-to-Play Rule Violating the pay-to-play rule can result in serious consequences, and RIAs should adopt robust policies and procedures to prevent and detect contributions made to influence the selection of the firm by a government entity.
- Use and Misuse of Social Media Social media is an inexpensive and effective way to communicate with established and prospective clients. Nevertheless, when RIAs utilize social media to promote their advisory practices, they risk compliance problems for their firms.
As the fiduciary debate shows unmistakable signs of coming to the fore of the agendas of the SEC and the Deparment of Labor, we are asking advisors to once again have their voices heard in the media and inside the Beltway. The third annual AdvisorOne-fi360 Fiduciary Survey will close on Friday, April 5.
While hundreds of advisors have already participated, we encourage advisors of all business models and affiliations to take advantage of this opportunity to participate in the debate. Respondents can maintain their anonymity in taking the survey, but the findings in aggregate will help inform the discussion on this crucial topic. We want to know, and to publicize, not only what your opinions are regarding a fiduciary standard, but also how and whether you are already implementing such a standard in your own practice.
A “concept release” on the fiduciary standard could come from the SEC by early summer, while the DOL fiduciary redraft is scheduled to be released in July.