Kitces on Top 3 Topics for Advisors in 2013—Topic 1: Fiduciary and SRO
First up in an intense year for advisor regulation: movement from the DOL on its fiduciary rule.
Three Washington Heavyweights to Drive Advisor Agenda in ’13
Three key Washington heavyweights will have a crucial role in advisors’ lives next year: Elisse Walter, the new SEC chairman; Rep. Jeb Hensarling, the incoming House Financial Services chairman; and Phyllis Borzi, at the DOL’s EBSA.
NAPFA’s CFP-Only Stand: A Step in the Wrong Direction
A curious move, at a curious time, for purportedly, a curious reason, that is also a slap in the face to CPAs with the PFS credential.
Hensarling Elected House Financial Services Chairman
As expected, Rep. Jeb Hensarling, R-Texas, was elected Chairman of the House Financial Services Committee and will take over the reins in January from Rep. Spencer Bachus, R-Ala.
In Shakeup, FPA Outsources Washington Lobbying Efforts
Restructuring is part of an overall plan to focus on planner group’s strategic vision being put in place by new CEO Lauren Schadle.
To Thwart SRO Bill, Coalition Is Pressing for Senate User Fees Bill
Nystrom of NAPFA: the Financial Planning Coalition is 'seeing where our strengths are' in the Senate to ensure a user fees bill gets introduced in 2013.
As Congress Keeps SEC Budget Flat, SRO Specter Still Lurks
Before breaking for recess, Congress passed early Saturday a continuing resolution that would nearly flat-line the SEC's budget, renewing worries that a House bill calling for an SRO for advisors will be revived next year.
Remedy to Boost Advisor Exams Out of Reach This Year
Two important issues for the advisory industry will remain unresolved until next year: how to boost investment advisor exams—either through a self-regulatory organization (SRO) or via user fees—as well as a rule to put brokers under a fiduciary mandate.
A Chat With CFP Board CEO Kevin Keller: Fiduciary, SRO and His Priorities
Providing the SEC with the resources it needs “is the best solution" to the advisor exam problem, says Kevin Keller, but finding a way to ensure advisors face more exam scrutiny—through an SRO or user fees paid to the SEC—will be a “long-term issue.”
It’s Not Too Late to Make Your Voice Heard on SRO Bill
If you’re not in favor of having FINRA become the SRO for RIAs, join the advisor grass-roots effort to advocate with Congress against Bachus bill.