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.
Fi360 Urges SEC to Consider Third-Party Advisor Exams
The Securities and Exchange Commission should revisit the idea of using third-party audits to boost the number of advisor exams in lieu of assessing user fees or appointing a self-regulatory organization to conduct such exams, says fi360.
Top Cybersecurity Threats for BDs, Advisors
At SEC’s cybersecurity roundtable, officials discussed the biggest risks to BDs and advisors and urged the SEC not to prescribe “rigid” rules.
fi360 Urges SEC to Consider Third-Party Advisor Exams
As user-fees bill and SRO options stall, fiduciary advocate fi360 suggests third-party compliance reviews.
SEC Gets 26% Funding Boost Under Obama’s 2015 Budget
Chief White praised the plan, but IAA's David Tittsworth said coming midterm election make the budget “even more irrelevant than in most other years.”
SEC Starts Exam Sweep of Never-Examined Advisors
Exams will target advisors registered for at least three years, excluding private fund advisors, and focus on areas "most important to protecting investors."
IAA’s Tittsworth to Step Down
Providing a year’s notice will give “ample opportunity for the IAA Board ... to identify my successor,” David Tittsworth said.