DC Update on SEC User Fees, an SRO and Third-Party Exams
It will be difficult to enact any legislation in this Congress, but I predict that the RIA user fee bill will gain co-sponsors, including Republicans.
High-Speed Trading Rules Coming From SEC, White Says
The SEC chief unveiled the regulator’s most sweeping plan yet for reining in high-frequency trading and monitoring secretive trading practices.
Record Attendance, Upbeat Mood at FSI Conference
The new year finds the Financial Services Institute optimistic and on a roll.
You Decide: Who Should Be Next SEC Chairman?
Is Sallie Krawcheck the right person? Rich Ketchum? Take our AdvisorOne quick poll; we’ll make sure President Obama hears who you want.
FSI to FINRA: This Is the Wrong Time for Higher Fees
Part of FSI’s engagement with FINRA is to let them know when they have gone too far. That is clearly the case with the substantial fee increases the organization has proposed for broker-dealers and financial advisors, increases that would hit small firms the hardest.
Some Questions—and Answers—on the Spencer Bachus SRO Bill
Some of the answers: FINRA is the only viable option that has been identified as an SRO and, as Mercer Bullard commented, "the bill would impose a tax on small advisory businesses...and mainstream investors they represent."
How to Make Your Voice Heard With Regulators in Your Own Backyard
A good way to engage regulators and make a difference is by participating in FINRA District Committees, as FSI member Wilson WIlliams is doing.
Fiduciary Duty Rule: A Status Report One Year Later
January 21 marks the one-year anniversary of the SEC handing over to Congress its report under Section 913 of Dodd-Frank recommending that brokers adhere to a fiduciary duty.
SRO Bill May Arrive This Fall
Lawmakers and industry officials debated the merits in mid-September of whether there should be a self-regulatory organization (SRO) for advisors, and at least one industry official says to expect SRO legislation from the House this fall.
Ketchum Says FINRA Ready to Be Advisor SRO
Just days after House Financial Services Chairman Spencer Bachus, R-Ala., introduced draft legislation calling for one or more SROs for advisors, Rick Ketchum, CEO of FINRA, told lawmakers at a Tuesday hearing to discuss the draft bill that FINRA stands ready to take on that role.