SEC Panel: 2 Big Problems With Advisor Background Checks
Investors don’t check advisor and rep backgrounds, and the data itself can be problematic.
SEC’s Ability to Deliver True Fiduciary Standard in Doubt: Report
Institute for the Fiduciary Standard says the SEC believes "conflicts are routine and acceptable — not inherently inconsistent with providing objective advice.”
SEC's White Supports Fiduciary Rule for Brokers, Third-Party Audits
While many in the industry are applauding SEC Chairwoman Mary Jo White's declaration that she will push to ensure the agency extends a fiduciary rule for brokers, concerns remain that such a rule will be a long time in the making.
Bill to Delay DOL Fiduciary Rulemaking Is Revived
Rep. Ann Wagner, R-Mo., has reintroduced a bill to force the DOL to wait until the SEC makes its own fiduciary rule.
Obama Endorses DOL Fiduciary Redraft, Girds for Fight
“If you want to give financial advice, you have to put your clients’ interest first,” Obama said Monday, blasting “backdoor payments” and high fees.
Obama Signals Support for DOL Fiduciary Redraft
As both sides gird for battle over the DOL measure, expected to be released any day now, the White House appears ready to lend support.
SEC Needs More Funding to ‘Solve’ Advisor Exam Deficiency
While there “may be ways” that the SEC can reallocate its existing resources to accommodate a higher advisor exam rate, the SEC “cannot solve this [exam deficiency] problem without additional resources from Congress."
Lawmakers Push Vote on Spending Bill; SEC Funding Boosted
Lawmakers avert shutdown with a deal late Tuesday, but critics call it a “stealth attack on financial reform.”
SEC Taking ‘Deep Dive’ at Accredited Investor Definition
Securities and Exchange Commission Chairwoman Mary Jo White says that the agency will take a “deep dive” into how to revise its decades-old accredited investor definition.
Fiduciary September and What’s Possible
What we learned during Fiduciary September from John Bogle, John Taft, Barbara Roper, Troy Paredes and Robert Plaze.