Regulatory ‘Mess’ as States Enter Fiduciary Fray
Advisors “don’t know what their obligations are under state law” or what to do if they conflict with federal regulations, an attorney says.
SEC Chief Clayton Reveals Cyber Breach in EDGAR System
In a sweeping statement, agency says it learned in August that the 2016 breach "resulted in access to nonpublic information."
Regulators Charge SII With ‘Unethical’ Conduct Tied to REIT Sales
Advisors' commissions on the sales topped $278,000, according to Massachusetts securities regulator William Galvin.
FSOC Insurance Member Bill Heads to Trump’s Desk
The bill clears up confusion on whether, and how long, the independent insurance member of FSOC can serve once their term expires.
Automate Advice, Not the Advisor
Handing off low-value clients to a robo-advisor is a mistake. The smart advisor will use AI but keep every client very close.
Senate Panel to Grill SEC Chair Clayton
Testimony before a House panel in early October is also forthcoming; the hearings come as the agency takes comments on a fiduciary rule.
Obama Goes From White House to Wall Street in Less Than One Year
Ex-president speaks to Carlyle, Cantor and Northern Trust; “If someone is willing to pay him to give a speech, God bless.”
FINRA Releases Arbitrator Diversity Data for the First Time
The move follows complaints that arb panels were skewed toward white men and a push by the regulator to add African-Americans and women.
Equifax Stock Sales Said to Be Focus of US Criminal Probe
The executives were unaware of the breach when they sold almost $1.8 million in stock, the company said.
Fiduciary Rule Delay to Cost Investors $11 Billion: Economic Policy Institute
EPI is just one of many consumer groups opposing the rule's 18-month delay until July 2019.