SEC’s New Investor Advocate Says He Has Broad Authority
A "big part" of the job will involve policy, said advocate Rick Fleming. Meanwhile, an investor advisory subcommittee proposed SEC crowdfunding guidelines.
BDs Blast FINRA’s CARDS Plan on Privacy Risk
FSI and other broker-dealer trade groups say FINRA's plan to collect vast amounts of account data comes with "serious privacy" concerns and significant costs.
SEC Chief: Rule Priorities in ’14 Include Money Market Funds, Crowdfunding
Fiduciary rule fails to make the list, but SEC Chief White talks up a new exam tool that can analyze millions of transactions a day.
More Advisor Exams? Not Under This SEC Budget, Advocates Say
CFP Board, CFA and others say the SEC's pledge to examine more advisors will be tough to fulfill with only a $29 million increase.
DOL Seen as First Mover on Fiduciary
The SEC will let the DOL move first in releasing its fiduciary redraft, which the DOL said won’t come until August, two industry officials predicted.
FINRA Creates Investor Issues Committee
The committee will advise senior FINRA staffers on proposed rulemaking and policy initiatives. Barbara Roper is one member.
SEC Tags Fiduciary as 'Long-Term' Action; Advocates Unfazed
The fact that a fiduciary rulemaking is on the SEC’s agenda at all "suggests to me that we are moving closer," says CFA's Barbara Roper.
Will the SEC Create Two Kinds of Fiduciaries?
The debate rages on about what Dodd-Frank said the SEC could — or could not — do in writing a fiduciary rule for brokers.
SEC Investor Advisory Committee Approves Fiduciary, User-Fee Plans
Recommendation on how brokers should be put under a fiduciary mandate sailed through the full committee Friday, but members voiced concern about user-fee plan.
Is Investor Confusion Really Harmless?
An SEC panel raises the issue of harm caused by investor confusion over the difference between a fiduciary and a suitability standard.