SEC to Conduct ‘IT-Related’ Exams of BDs, Advisors
Examiners will take a targeted look this year at “the quality of the technical infrastructure” of firms’ cybersecurity controls.
Wells Fargo Advisors Names New Compliance Chief
Jim McHale used to head compliance at E*Trade and served as counsel to SIFMA.
Bad Guys ‘Winning’ in Cyberattacks
It’s inevitable that cyber breaches will happen, so prevention alone is not enough, FINRA and SIFMA say.
After Obama Address, Battle Lines Are Drawn in Congress
Industry trade groups and lawmakers were quick to weigh in with praise and criticism of issues raised in President Obama's mid-January State of the Union address, namely cybersecurity, the Dodd-Frank financial reform law, taxes and entitlement reform.
White House Memo Offers a Peek at DOL Fiduciary Strategy
Two top Obama economic advisors write in an internal memo that DOL should tighten broker rules; they share some details from the long-awaited fiduciary redraft.
Time for Broker Crackdown as Abuses Cost Retirement Savers Billions: Obama Aide
A leaked White House memo estimates the cost to 401(k) savers of broker practices like excessive trading and calls for tighter rules.
Obama’s State of the Union Financial Proposals Draw Praise, Criticism
Industry trade groups and lawmakers were quick to weigh in on Obama's plans, or lack thereof, on cybersecurity, Dodd-Frank, taxes and entitlement reform.
SIFMA Blasts Proposed Financial Transaction Tax
SIFMA is criticizing Rep. Chris Van Hollen’s just-released tax reform plan, which calls for a financial transaction tax.
DOL Urged to Hold Off on Proposed Fee Guide
A group of business organizations turned up the heat this week in its campaign against a proposed DOL fee disclosure guide.
SEC Needs More Funding to ‘Solve’ Advisor Exam Deficiency
While there “may be ways” that the SEC can reallocate its existing resources to accommodate a higher advisor exam rate, the SEC “cannot solve this [exam deficiency] problem without additional resources from Congress."