Is State Regulation the Future of Financial Planning?
Time to rethink national regulation of financial planners in favor of state oversight? Michael Zmistowski of the Florida Council of the FPA makes the argument.
More CFPs Needed but Board ‘Won’t Lower Standards’: CFP Board’s Keller
Board will foster growth partly through corporate partners and needs to “get its arms around” the robo-advisor trend, CEO Kevin Keller says.
What Elizabeth Warren Fails to Understand About Finance
Law professor Todd Zywicki says the primary victims of well-intentioned but paternalistic bureaucrats are the very people they are meant to protect, especially lower-income Americans.
The Small, Generalist Broker-Dealer: R.I.P.? Who Will Fail
Changed perceptions about the broker-dealer model and feelings of entitlement by some reps bode ill for undifferentiated, smaller BDs.
The Small, Generalist Broker-Dealer: R.I.P.? Who Will Survive
Led by the strictures of Dodd-Frank, higher costs and tougher regulation are already putting smaller, undifferentiated BDs into trouble.
New SEC Chairwoman Walter Appoints Two Acting Directors
During her first day as the new chairman of the SEC, Elisse Walter appointed two acting directors, one to the Division of Corporation Finance and the other to Trading and Markets.
3 Reforms of Money Market Funds Advanced by FSOC
The Financial Stability Oversight Council, using authority under Dodd-Frank, votes unanimously on the proposals and seeks public comment.
Industry Groups Press DOL for ‘Progress Report’ on Fiduciary Redraft
The Financial Services Institute and Financial Services Roundtable are pressuring the Department of Labor to release a “progress report” on the department’s redrafting of its rule amending the definition of fiduciary under ERISA.
SEC’s Schapiro to Congress: Budget Boost Needed to Modernize EDGAR, Add Staff
SEC chairman says 676 new employees could be added under Obama budget request; agency reviewing regional offices.
SEC, CFTC Issue Joint Rule Proposal on Identity Theft
The SEC on Tuesday announced a rule proposal to help protect investors from identity theft by ensuring that broker-dealers, mutual funds, and other SEC-regulated entities create programs to detect and respond appropriately to red flags.