Fiduciary Best Practices, Part Deux: Bigger, Better, Maybe More Client-Centered
Recent activities in Congress and at the SEC to curtail a fiduciary standard for brokers indicate, at least to this writer, that any meaningful advances in investor protections will be driven by independent fiduciary advisors.
Dodd and Frank on Dodd-Frank
“We did very difficult, politically hard things” in the Dodd-Frank Wall Street Reform and Consumer Protection Act, former Massachusetts Congressman Barney Frank said July 21 as the law that bears his name celebrated its fifth anniversary. “My head hurt.”
SEC Proposes Significant Changes to Form ADV Part 1
Just when you thought it was safe to go outdoors, the Securities and Exchange Commission strikes again.
SEC, FINRA Enforcement: Morgan Stanley Fined on Muni Bond Shorts
Meanwhile, the SEC fined an infant formula maker for bribing Chinese hospital workers.
Most Advisors See Little Effect From New Fiduciary Rules, Survey Finds
But, expert asks, do reps really understand what they will need to do to fully monitor and manage investment suitability?
Court Rules There's No 180-Day Limit on SEC Investigations
An appellate court has agreed with the SEC’s self-serving interpretation that Dodd-Frank's 180-day Wells notice limit was not an enforceable limit at all.
SEC Pay-to-Play July 31 Effective Date a ‘Nonevent’: IAA Chief
The SEC won’t enforce ban on advisors’ use of third parties to solicit business from government entities until FINRA and the MSRB issue final rules.
Top Mutual Funds in 401(k) Retirement Plans: BrightScope
Two big fund providers accounted for more than half of the funds represented.
Lawmakers Ask DOL to Start Over on Fiduciary Rule
“We feel it is in the interest of our constituents that the DOL repropose this fiduciary regulation,” lawmakers tell Labor’s Thomas Perez.
House GOP Tells DOL to Scrap Fiduciary Plan
Lawmakers from the House committee with jurisdiction over DOL accused it of having an “insatiable desire to re-engineer the retirement services industry.”