New Hire Roundup: NASAA Names Joseph Brady Executive Director
Meanwhile, TIAA-CREF announced that Derek Dorn has been named vice president of public policy and associate general counsel.
The ‘Cost’ of Fiduciary: Those Wacky Folks at NAIFA Are at It Again
A standard that requires retail advisors to put their clients’ interests first is not about costs; it’s about protecting investors.
SEC Gets an Earful From Advisors on Fiduciary Standard
Comments to the SEC from individual advisors—yes, most of them RIAs—call for one standardized fiduciary duty for all. Even Vanguard founder John Bogle weighed in.
Industry Groups Fear Wagner Bill Will Stop SEC, DOL Fiduciary Rules in Their Tracks
The bill, which passed the House Financial Services Committee on Wednesday, was unlikely to be made into law but could have serious implications anyway, the groups said.
Retirement Planning Groups to SEC: Stop Messing With Money-Market Funds
In a joint letter to the SEC Tuesday, the ICI, FSI and others said the proposed changes would render the funds "far less desirable—if not unusable—for retirement savers."
SEC Funding Boost ‘Not Going to Happen’: SRO Bill Co-Sponsor
Opponents of Rep. Spencer Bachus’ bill calling for a SRO to oversee advisors had their hopes that the SEC would receive a boost in funding in order to thwart an SRO quashed on Wednesday.
Combatants Gear Up for SRO Hearing
Their collective rallying cry: an SRO isn’t needed—particularly if that SRO is FINRA. What to do instead? Fund the SEC so that it can conduct more frequent advisor exams.
GAO Criticizes FINRA, SEC on Oversight
Serious questions are being raised about the effectiveness of FINRA and whether the SEC spends enough time overseeing this self-regulatory agency.
Bachus, McCarthy Introduce SRO Redraft
House Financial Services Chairman Spencer Bachus reintroduced on Wednesday his draft bill calling for an SRO for advisors—one week after industry sources told AdvisorOne that an SRO bill was imminent.
Post-Election Estate Tax Fix?
Tax issues will figure prominently in the goings-on in Washington this presidential election year, with the consensus among tax specialists being that Congress is most likely to address the estate tax when it decides late this year whether to extend the Bush tax cuts.