2011: The Year the Advisors’ Playing Field Fundamentally Changes
All eyes this year will be focused on the exchanges that will ensue between lawmakers and the Securities and Exchange Commission.
SIFMA to Play 'Active Role' in Guiding Dodd-Frank Implementation, CEO Ryan Says
2010 was the year that produced Dodd-Frank, but 2011 will be the year when “many of the questions that are outstanding as to how financial services will be changed” will be answered, said Tim Ryan, CEO of SIFMA.
SEC May Impose Disclosure-Only Reg, Not Fiduciary Duty, for Brokers
As the Jan. 21 deadline approaches for the SEC's reports to Congress, industry groups are voicing their concerns about what an SEC-crafted fiduciary standard may look like.
SIFMA's Ryan: After Election, 'Unfinished Business' Is Taxes, GSEs
Tim Ryan, CEO of SIFMA, said Monday during SIFMA's annual conference in New York, that following the midterm elections, SIFMA will continue to work to restore faith and confidence in our financial markets, including effectively implementing the Dodd-Frank Act.
SIFMA Report: Retail Investors Would Lose Under a Uniform Fiduciary Standard
SIFMA study: Retail investors would experience "reduced product and service availability and higher costs" under a uniform standard "that does not appropriately recognize the important distinctions among business models."
What the Uniform Fiduciary Standard Will Not Be
SIFMA CEO Tim Ryan says matter-of-factly: the "uniform" fiduciary standard that the Securities and Exchange Commission (SEC) is working on will not be the fiduciary standard under the Advisers Act of 1940, because, he opined, we have to have a standard that will "work for everyone."
SIFMA's Ryan: Financial Industry, Regulators Face 'Unprecedented Task' Under Dodd-Frank
Ryan: a fiduciary standard for brokers will likely be a "modified '40 Act standard" that incorporates additional disclosures. But it will be "disclosure that's understood."
Impact of Financial Reform Bill on Advisors, Broker-Dealers and Banks
While it isn't an updated version of Glass-Steagall, the latest financial-services reform legislation -- still in need of a few last Senate votes to pass...
Reform's Impact on Advisors, Broker/Dealers, and Banks
The 2010 reform legislation will impact RIAs, the large banks employing wirehouse advisors, and independent broker/dealers. "This is a tough law that will also have profound...
Impact of Financial Reform Bill on Advisors, Broker/Dealers and Banks
While it isn't an updated version of Glass-Steagall, the financial services reform legislation the Senate passed, 60-39, on July 15, is poised to have a variety of impacts on the large banks employing wirehouse advisors, as well as on broker/dealers.