More Advisor Exams Loom
While boosting oversight of advisors via user fees, third-party examiners or a separate self-regulatory organization was dead politically this year, none of those issue has gone away, says Brian Hamburger, CEO of MarketCounsel, and more advisor exams are likely on the horizon.
Known (and Unknowable) Unknowns For Compliant Advisors
The SEC, FINRA, DOL — regulations and oversight come from all sides, and anticipating what's compliant today but won't be tomorrow is a tricky game.
No Rules Yet, but Prepare Now
Regulatory issues that aren't getting the attention they need, argues MarketCounsel CEO Brian Hamburger.
Camardas Appeal CFP Board Case to Right ‘Grave Wrongs’
"The welfare of the profession, and of the client public” are hanging in the balance, the Camardas say.
Could 20 Digits Prevent Another Financial Crisis?
SEC Commissioner Kara Stein, a self-described "geek," says a 20-digit code could help stop the financial world from imploding again.
The SEC ‘Hasn't Been Doing Its Job for a Long Time’: Brian Hamburger
In a wide-ranging session at the Envestnet Advisor Summit in Chicago in early May, MarketCounsel's Brian Hamburger argued that one of the main regulatory and compliance issues facing advisors is the regulators themselves.
Forget Fiduciary: Real Battle Coming Over Harmonization
SEC "hasn’t been doing its job for a long time," MarketCounsel CEO Brian Hamburger says, and the DOL fiduciary controversy obscures a bigger fight ahead.
Is a ‘Presence Exam’ in Your Future, RIA?
SEC exam chief Andrew Bowden said at a January hedge fund conference in New York that the agency's Office of Compliance Inspections and Examinations will use the “presence exams” that it used to audit newly registered private fund advisors on never-examined advisors in 2015.
Is There Really an Advisor Exam Problem?
Head scratching continues over what to do about boosting SEC advisor exams — or whether the supposed deficiency is just a political football.
Side-Stepping SEC and DOL, 11 Fiduciary Best Practices for Advisors Are Proposed
Institute for the Fiduciary Standard's Knut Rostad says these practices can be used by advisors to counteract D.C. gridlock on fiduciary and “investor misperceptions.”