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.
SEC Imposes First Advisor Pay-to-Play Fine
The SEC fined a Philadelphia firm for collecting advisory fees from public pension funds after a firm associate donated to political candidates.
A recent survey by Cerulli showed that wirehouse BDs had about a 43% market share of retail asset management as of end-2010 — down from almost half the market in 2007. Naturally, other distribution channels were gaining, among them independent BDs and RIAs.
SEC's New Powers Affect Hedge Fund and Private Equity Advisors
Alternative investment advisors who have business in the U.S. will be required to register with the SEC under newly enacted regulatory reform legislation, according to a statement issued by Kinetic Partners on July 21.