FINRA’s Ketchum Criticizes DOL Fiduciary Plan
FINRA CEO says DOL's safe harbor descriptions are "narrow" for BDs and that the CARDS plan is on hold until security concerns are addressed.
FINRA Chief to Testify in House
The House Financial Services Capital Markets Subcommittee will question FINRA CEO Richard Ketchum on May 1. The controversial CARDS plan will be a likely topic.
‘New Round’ of Fiduciary Feedback May Be Needed: SEC Markets Chief
Development of a list of fiduciary rulemaking possibilities "is still in process,” SEC's Stephen Luparello said.
House Measure to Slow Fiduciary Rulemaking Poses Little Threat: Industry Officials
A discussion draft introduced Thursday designed to stymie efforts by the SEC and DOL to craft fiduciary rules will prove to be of little consequence, fi360's Duane Thompson and other experts said.
House Bill to Require SEC, DOL Fiduciary Collaboration
But SEC’s Mary Jo White maintains SEC and DOL are "two different agencies"; says more exam "coverage" is needed for advisors.
Lawmaker Calls SEC’s Delay on JOBS Act Promotion Rule ‘Completely Unacceptable’
The House hearing on Thursday addressed crowdfunding and concerns on how to verify "accredited investors" for the purpose of advertising private offerings.
Critics Slam SEC’s Municipal Advisor Plan in Dodd-Frank Hearing
One expressed concern with the proposed rule is that it defines “municipal advisor” too broadly.
SIPC Fights SEC’s Stanford Suit
One day after Allen Stanford was convicted on March 6 of operating a $7 billion Ponzi scheme, the CEO of the Securities Investor Protection Corp. (SIPC) told lawmakers that SIPC is not responsible for reimbursing Stanford investors for their losses.
Timing of SEC Fiduciary Rule in Flux
SEC Chairman Schapiro says agency's economists plan to ask public for more data on retail financial advice. How long will this take?
Revised SRO Bill by Bachus Out ‘Very Soon,’ Says IAA’s Tittsworth
A new draft of Rep. Spencer Bachus’ bill calling for an SRO for advisors is expected to be out 'very soon,' David Tittsworth, executive director of the Investment Adviser Association told AdvisorOne Wednesday.