With White’s Departure From SEC, Hopefully the Bullying Will End
Chair Mary Jo White is an extremely smart lawyer, but former prosecutors prosecute; too often, small firms were the victims of bullying by the SEC.
3 Critical Areas Regulators Are Watching
There are three key issues that advisors are ignoring at their regulatory or financial peril.
SEC Announces Reporting Changes for Advisors on SMAs, Performance
Advisors will need to provide additional information on their Form ADV, and retain performance documentation for all managed accounts or security recommendations.
New Federal Law, SEC Scrutiny Triggers Clarification of Whistleblower Rights
Existing privacy regulations and common sense have led advisors to vigorously protect confidential information.
DOL Rule: Is That All There Is?
But make sure, RIAs, you're complying with the DOL's Advisory Opinion 2005-23A when providing rollover recommendations to plan participants.
SEC Proposes New Rule to Require Business Continuity Plans
Under the rule, it would be unlawful for an RIA to provide investment advice if it does not adopt a BCP and review it annually.
How to Comply With DOL's BICE
The BICE allows fiduciaries to receive various forms of compensation that, in the absence of an exemption, would not be permitted under ERISA and the Internal Revenue Code.
Prohibited Transactions in a Post-Fiduciary Rule World
Advisors can directly or indirectly be on the wrong side of DOL's rule — and they can be held personally liable.
‘Top-Down Compliance’ Isn’t Just a Buzzword
An advisory firm must be able to demonstrate how it educates all its staff members on compliance-related matters, the SEC says.
Can Advisors Disclose Away 12b-1 Fee Conflicts?
So-called 12b-1 fees are paid by a mutual fund out of a fund's assets to cover distribution expenses and sometimes shareholder service expenses.