More On Legal & Compliancefrom The Advisor's Professional Library
- Whistleblowers A whistleblower is any individual providing the SEC with original information related to a possible violation of federal securities law. The Dodd-Frank Act established a whistleblower program that enables the SEC to reward individuals who voluntarily provide such information.
- The Few and the Proud: Chief Compliance Officers CCOs make significant contributions to success of an RIA, designing and implementing compliance programs that prevent, detect and correct securities law violations. When major compliance problems occur at firms, CCOs will likely receive regulatory consequences.
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.