Harmonizing DOL, SEC Fiduciary Rules Forces a Stark Choice, fi360 Warns Lawmakers
Harmonizing the two rules, fi360 says, would require the SEC to toughen its rules or the DOL to relax them, violating ERISA requirements and weakening protections for retirement plan participants.
SRO Bill May See July Vote; SEC Gets Glint of Hope for Extra Funds
Despite the fact that a late June markup of Rep. Spencer Bachus’ SRO bill was delayed, he still “intends to move the bill forward through committee,” says Dan Barry of FPA.
On 5th Anniversary of FPA’s Win on ‘Merrill Rule,’ Fight Continues
Lawsuit whose victory surprised and delighted many changed the conversation in Washington while industry still awaits shape of a final fiduciary rule.
Outlook 2012: Washington — Final Outcomes on Fiduciary, SRO?
The regulatory/legislative front will heat up in the New Year for advisors, with four issues taking center stage—the SEC and DOL's fiduciary rules, an SRO for advisors and the 'switching' of advisors.
SEC to Get $136M Increase Under New Spending Bill for 2012
Bipartisan deal to avert government shutdown includes $1.3 billion in funding for the SEC in 2012, but $25 million cut from Dodd-Frank reserve fund; extension of payroll tax cut still up in the air.
Unfinished Business: Advisors Debate Fiduciary Standard, SRO
As we near the end of 2011, two of the top issues for the advisory industry remain unresolved: a fiduciary mandate for brokers and a SRO for advisors.
Harmonizing Advisor, BD Rules Back Burner Issue for SEC: fi360's Thompson Says
Harmonization of advisor and broker rules is an issue that’s “lower on the totem pole” for the SEC now, Duane Thompson, senior policy analyst with fi360, said on Thursday. However, there are clearly areas where harmonization needs to occur.
Separate but Equal?
To hear Duane Thompson tell it, now that the Republicans have control of the House of Representatives, a bill authorizing a self-regulatory organization for investment advisors any time soon is unlikely.
SRO Bill May Arrive This Fall
Lawmakers and industry officials debated the merits in mid-September of whether there should be a self-regulatory organization (SRO) for advisors, and at least one industry official says to expect SRO legislation from the House this fall.
Congress Urged to Preserve States' Authority in Any SRO for Advisors
Just as the Pennsylvania Securities Commissioner was warning members of a House subcommittee on Tuesday to not trump states’ authority in potentially requiring an SRO for advisors, the newly christened NASAA president was beating the same drum miles away.