SEC to Conduct ‘IT-Related’ Exams of BDs, Advisors
Examiners will take a targeted look this year at “the quality of the technical infrastructure” of firms’ cybersecurity controls.
Chamber of Commerce Raises Concerns With DOL Fiduciary Redraft
Top execs at U.S. Chamber of Commerce lay out their concerns about new rules affecting prohibited transaction exemptions, rollovers and IRAs.
SEC Commissioners Rail Against Oppenheimer & Co. Waiver
SEC waiver throws away "valuable enforcement tools" and adopts a policy of "too-big-to-bar," says Rep. Maxine Waters.
Bills on 529 Plans, Small Biz Taxes Head for House Vote
FSI supports the two bills: one to loosen some rules on 529 plans and another to allow small businesses to deduct office equipment.
Bad Guys ‘Winning’ in Cyberattacks
It’s inevitable that cyber breaches will happen, so prevention alone is not enough, FINRA and SIFMA say.
SEC Names Grim Acting Director of Investment Management
David Grim has served as deputy director of the division for the past two years.
BDs’ Cybersecurity Stronger Than Advisors’: SEC, FINRA Reports
Both the SEC and FINRA will "likely bring enforcement actions if firms’ policies and procedures are found to be deficient,” warns Sutherland's Brian Rubin.
SEC Would Hire 431 Under Obama’s 2016 Budget
The new hires would come in addition to the 105 examiners the SEC plans to hire in fiscal 2015.
IRS International Data Exchange Service Open for FATCA Filings
The IRS announced in January that IDES is open for enrollment, and that financial institutions and host country tax authorities can use it to securely send reports on financial accounts held by Americans to the IRS under FATCA.
Key Congressional Committees Get New Leaders
The start of the new GOP-controlled Congress brings with it new faces to key congressional committees that hold sway over a variety of issues impacting advisors.