Harvey Pitt’s Solution to SEC’s RIA Exam Shortfall
SEC Chairwoman Mary Jo White says third-party exams are a “creative idea,” but there are “a number of issues.” Ex-Chairman Pitt offers one solution.
Gallagher: SEC Fiduciary Rule Won’t ‘Stave Off’ DOL Redraft
“Folks have … said do a rulemaking because it will stave off Labor. I don’t like rulemaking to stave off other people,” says SEC's Gallagher.
SEC’s Gallagher: Fiduciary Debate Biased Against Brokers
The debate is “not fair right now” because there is much more exam data on brokers than on advisors, SEC Commissioner Daniel Gallagher told ThinkAdvisor.
SEC Ripped Over Analyses of Rules by Mercatus Study
Before retooling its analyses in 2012, the SEC “often ignored important alternatives that should be obvious to an expert agency,” says a Mercatus Center paper.
White, Borzi and Legislators Focus on Fiduciary
Less than a month apart, the women behind the crafting of fiduciary rulemakings at the Department of Labor and the Securities and Exchange Commission made some definitive comments about their respective proposals.
SEC to Seek More Input on Target-Date Fund Marketing Rules
SEC Chairwoman White addresses target-date fund proposal, predispute arbitration agreements and fiduciary rulemaking at CFA event.
SEC’s Gallagher: Fiduciary Rule Likely Not Coming
Phyllis Borzi calls DOL's fiduciary redraft "No. 1 priority"; SEC Commissioner Daniel Gallagher adamant that the commission lacks the votes to make a rule.
New Hire Roundup: Ohio Securities Commissioner Andrea Seidt to Lead NASAA
Stephanie Zaffos joined Convergent Wealth Advisors, Scivantage welcomed Jim Toussignant, and the SEC announced three staff promotions.
SEC Swears In 2 Commissioners; FINRA Names New Governors
Kara Stein and Michael Piwowar, both former congressional staffers, are new SEC commissioners, replacing Elisse Walter and Troy Paredes.
SEC Budget Faces $108M Cut Under Sequester; House GOP Blasts SEC’s ‘Misplaced Priorities’
Republicans on the House Financial Services Committee criticized the agency Tuesday for “repeatedly failing to fulfill any part of its mission.”