SEC’s Aguilar: Predispute Mandatory Arbitration Denies Investors’ Rights
“A client’s right to go to court to recover monetary damages is an important right that should be preserved and kept in the client’s toolkit,” SEC Commissioner Luis Aguilar told state securities regulators Tuesday.
Gridlock Easing in Congress, but Not in House Financial Services: Rep. Himes
While the icy stalemate in Congress is “beginning to thaw,” expect further gridlock on the House Financial Services Committee, Rep. Jim Himes, D-Conn., told state regulators Tuesday.
Fiduciary in Name Only? Applying the Fiduciary Standard to Your Business
When RIAs commit unethical acts against clients, they are FINOs—Fiduciaries In Name Only. Here's how to apply the fiduciary standard not only to how you serve clients, but how you run your business.
White Pledges to Weigh Cost of Fiduciary Rule as Ketchum Revives SRO Fight
Just as incoming Securities and Exchange Commission (SEC) Chairwoman Mary Jo White has pledged to lawmakers that she would carefully weigh the costs of a fiduciary rulemaking, Richard Ketchum, CEO of the Financial Industry Regulatory Authority (FINRA), is renewing his call for a self-regulatory organization to oversee advisors.
NASAA’s Advocacy Agenda: Advisor Regulation, Fiduciary Duty, Arbitration
Our agenda calls for Congress to ensure all investors are protected when receiving individualized investment advice. This revolves around two key issues.
NASAA to Push SEC User Fees, ‘Stay On Guard’ Against FINRA SRO
Chief among state securities regulators’ legislative agenda this year will be pushing SEC user fees, not a FINRA SRO, to better regulate advisors, NASAA President Heath Abshure said Tuesday.
Calls for Crowdfunding Rules Grow Louder
Crowdfunding advocates, small businesses and venture capitalists held an all-day vigil in Washington Tuesday to push for action on crowdfunding rules.
FINRA Seeks Second Round of Comments on Markups, Commissions Plan
After being deluged with comments against its plan to end a 5% threshold on commissions and markups, FINRA is giving broker-dealers yet another chance to weigh in.
FINRA Issues Crowdfunding Portal Form
FINRA issued on Thursday a voluntary Interim Form for Funding Portals designed for prospective crowdfunding portals under the JOBS Act.
NASAA Fires Off Warning as Crowdfunding Accelerates
With the number of crowdfunding Internet domains jumping from 900 to 8,800 since the beginning of the year, NASAA sees big potential for abuse.