SEC Should Shift Existing Funding to Boost Advisor Exams, IAA Says
The advisor advocacy group is “concerned about the potential disadvantages" of third-party exams compared to SEC examinations, says President David Tittsworth.
SEC: Advisor Use of Social Media Testimonials Sometimes OK
In long-awaited guidance, the SEC clarifies when it is and is not acceptable for an advisor to use clients' testimonials on social media.
Private Funds: Are You a ‘Knowledgeable Employee’?
Newly released guidance from the SEC expands on the “knowledgeable employee” exemption in the Investment Company Act.
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.
SEC Issues 2 Guidance Updates
At issue: Whether a fund advisor can dodge the Investment Company Act by forgoing pay and whether closed-end funds can email certain data to shareholders.
Staying Compliant With the SEC’s Anti-Testimonial Rule
The Investment Advisers Act of 1940 explicitly prohibits client testimonials. What does that mean in 2013?
Making Sense of Form 13F
The form is already too often misunderstood — and now, a new format!
Bullard’s Blistering Critique of House Fiduciary Plan Offers Way Forward
A congressional hearing in late May showcased the latest arguments against SEC fiduciary rulemaking.
Do You Really Need to File That Social Media Post With FINRA?
The SEC has released guidance clarifying which social media posts investment companies must file with FINRA.
The IAA Compliance Conference, Pt. 1: What to Expect From Your Friends in DC
At the Investment Adviser Association’s annual compliance conference, a look at the significant legislative, regulatory and policy developments now being pursued and what’s coming next, especially from the SEC.