Free Financial Advice? What Could Be Better for Consumers?
Excising the requirement that professionals act in clients’ best interests would make society much more efficient, and save the Treasury billions!
Barney Frank to Testify on Dodd-Frank’s Impact 4 Years On
Former Rep. Barney Frank will testify Wednesday before the House Financial Services Committee on his namesake Dodd-Frank Act’s impact.
Rep. Bachus Backs Waters' User-Fees Bill
Rep. Spencer Bachus, R-Ala., agreed Thursday to co-sponsor a bill to allow the SEC to collect user fees to help boost advisor exams.
Rep. Waters Calls for Hearing on Advisor Exams
The top Democrat on the House Financial Services Committee wants a hearing on ways to boost advisor exams, including her user fees bill.
Advisory Industry Wants More Exams (and Will Pay for Them, Too)
On IAA's annual lobbying day, the industry has “a very unusual message" for Congress, TD Ameritrade's Skip Schweiss told ThinkAdvisor.
SEC's Gallagher: Fiduciary Debate Is Unfair
Daniel Gallagher, one of the Securities and Exchange Commission's two Republican commissioners, has been very vocal as of late regarding his belief that the agency doesn't need to write a rule to put brokers under a fiduciary mandate.
SEC’s Gallagher: Fiduciary Debate Biased Against Brokers
The debate is “not fair right now” because there is much more exam data on brokers than on advisors, SEC Commissioner Daniel Gallagher told ThinkAdvisor.
SEC’s White Pleads for Advisor Exam Funds; Rep. Waters ‘Pushing Hard’ for User Fees Bill
In 2004, the SEC “had 19 examiners per trillion dollars in investment advisor assets under management,” says White. “Today, we have only eight.”
Fi360 Urges SEC to Consider Third-Party Advisor Exams
The Securities and Exchange Commission should revisit the idea of using third-party audits to boost the number of advisor exams in lieu of assessing user fees or appointing a self-regulatory organization to conduct such exams, says fi360.
fi360 Urges SEC to Consider Third-Party Advisor Exams
As user-fees bill and SRO options stall, fiduciary advocate fi360 suggests third-party compliance reviews.