SEC Agrees to FINRA’s BrokerCheck Change on Posting Firings
Starting Dec. 12, the 15-day delay in the release of disclosure information filed on Form U5 will be reduced to three business days.
Can Robo-Advisors Really Be Fiduciaries?
Can robo-advisors "be neatly placed within our existing laws," SEC Commissioner Kara Stein asks, "or do we need certain tweaks and revisions?"
Advisor Comp Grids Encourage Conflicted Advice, Consumer Advocates Say
Financial firms want to kill the DOL's fiduciary plan “in order to preserve their toxic and perverse compensation practices,” the Consumer Federation of America says.
Rethinking Best Practices for Fiduciaries
Back in 2007, in what can best be described as a classic “David versus Goliath” victory, the FPA won a lawsuit against the SEC preventing it from expanding the “broker exemption.”
How to Fix the SEC Exam Process
The Securities and Exchange Commission's examination process is broken — always has been and unfortunately continues to be.
DOL Fiduciary Rule Nears the Finish Line
As 2015 drew to a close, intense debate continued regarding the DOL's planned release in the first half of 2016 of its rule to amend the definition of fiduciary under ERISA.
Experts: ‘Post-DOL World’ Is Coming
The FSI left attendees of the Financial Advisor Summit with a sober reminder of what lies ahead: a final version of DOL's new fiduciary rule is expected in early 2016.
Galvin Asks Banks to Do More to Prevent Elder Financial Abuse
The regulator asks 190 financial firms to train staffers and implement protocols for better protection of senior clients.
SEC Enforcement: Ex-Edward Jones Broker Used Client Real Estate Investments to Remodel House
Meanwhile, SEC fined a political intelligence firm for mishandling nonpublic info from Medicare and the FDA.
Third-Party Advisor Audits Could Be a Disaster: Norm Champ
Champ, a former SEC Investment Manangement director, looks at other cases in which SEC outsourced its authority with "disastrous results."