SEC Panel: 2 Big Problems With Advisor Background Checks
Investors don’t check advisor and rep backgrounds, and the data itself can be problematic.
SEC Tests Effectiveness of Disclosures; Fiduciary Rule Pending
As a decision regarding a fiduciary rulemaking hangs in the balance, two SEC commissioners are espousing “investor testing” as a way to help the agency better disclose broker and advisor standards of care.
SEC Pushes to Test Effectiveness of Investor Disclosures
“We should formulate a plan to incorporate thorough investor testing into as many of our projects as possible,” SEC Commissioner Kara Stein said.
‘Faulty’ Analysis Could Torpedo an SEC Fiduciary Rule: Advocates
SEC’s analysis on a fiduciary rule must be “thorough and well-reasoned,” as a “faulty analysis could doom or further delay” prospects for reform.
White Promises ‘Clarity’ on Fiduciary
While SEC Chairwoman Mary Jo White said in mid-November that the agency had not yet decided “whether to do something or what to do” regarding a fiduciary rulemaking, White said she planned to provide “clarity” as to her position regarding a uniform fiduciary rule in the “short term.”
The SEC Is Broken
A decades-old law and the origin of new commissioners stymies consensus building and rulemaking at the Securities and Exchange Commission.
SEC’s White to Provide ‘Clarity’ on Her Fiduciary Stance
Where does SEC Chairwoman Mary Jo White stand on a uniform fiduciary rule? No one knows, but that may soon change.
Roper Urges SEC Chief to Move on Fiduciary With Split Vote
Chairwoman Mary Jo White “gives every impression” that a uniform fiduciary rulemaking is “a personal priority for her,” says consumer advocate Barbara Roper.
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 Approves Tighter Money Fund Rules on 3-2 Vote
Among the changes approved by a split SEC: a floating NAV for prime money market funds.