House Panel to Keep SEC Budget Flat as Lobbyists Lose Hope on User Fees
The advisory industry needs “to move on to other [exam] options” like third-party audits and raising the AUM threshold for state-examined advisors, says TD's Schweiss.
Talk of FINRA as Advisor SRO Rears Its Head Again
A Republican on the House Financial Services Committee said at FINRA's annual conference that he would "explore" legislation to give FINRA advisor exam authority.
SEC Wants Big Form ADV Changes
The SEC has approved a plan to require advisors to provide more data on separately managed accounts, branch offices and social media on Form ADV.
SEC Chief: Advisor Exam Crunch Is a ‘Serious’ Investor Protection Issue
SEC chief White tells senators the current 10% advisor exam rate is cause for "great concern" and discusses fiduciary rules.
Sen. Shelby, NY Comptroller Enter Fiduciary Debate
The Senate Banking chairman says "We'll look at" DOL's fiduciary redraft. Meanwhile, the New York City comptroller pushes for a fiduciary law in the state.
Republicans Get Tough With SEC Over User Fees
Industry trade groups remain steadfast in their bid to secure more backers of a bipartisan user-fees bill.
SEC Chief White Pushes Back on Advisor Audits
White tells Financial Services Committee that a reallocation of resources from BD coverage to advisors would ‘not be advisable.’
GOP Blasts User Fees Plan, Tells SEC to Boost Exams Now
Reps. Hensarling and Garrett give SEC Chairwoman White a Dec. 5 deadline to detail how agency will reallocate resources.
What's Next for the Fiduciary Standard?
While the industry awaits a decision by the SEC on whether it will move forward with a uniform fiduciary rule for brokers and advisors, fiduciary advocates will engage this month in a debate about the importance of the two fiduciary rulemakings being considered by the SEC and the DOL.
SEC Launches Cybersecurity Exams of BDs, Advisors
The SEC says it has launched cybersecurity-related exams of more than 50 registered broker-dealers and RIAs.