In Broker Harmonization Debate, the SEC Is the Real Problem
The current debate over the regulation of brokers and investment advisors has been raging for almost four years now, ever since President Obama signed the Dodd-Frank Act into law back in 2010.
Enforcement: Nationwide to Pay $140M in 13-Year ERISA Settlement
In another action, the SEC charged the owner of a home restoration business with securities fraud for selling unsecured notes to investors.
NASAA Launches Online System for Reg D Filings
Electronic Filing Depository creates an 'efficient, streamlined system for state Form D filing requirements,' says NASAA's Beatty.
SEC, DOL Enforcement: Fiduciaries Fined $4.7M Over Fake Health Plan
Also, co-owners of Reliance Financial Advisors charged with making false statements to clients investing in a risky hedge fund.
More Advisor Audits Needed—Only Not From SEC: Pitt, Schweiss
Harvey Pitt and Skip Schweiss agree: it's time to privatize advisor audits.
Mark Cuban, Chris Cox Condemn SEC as ‘Rogue’ Agency
Former SEC chair Chris Cox says "we've got to [stop] people going rogue" in an admission his former agency has exhibited prosecutorial overreach.
SEC Enforcement: Man of Many Aliases Charged With Stock Fraud
California man with several aliases was charged with fraudulently selling $900,000 worth of stock that he didn't actually own.
Why Aren’t CFPs Always Subject to a Fiduciary Standard?
The CFP Board's rules on the matter are hard to discern, owing in no small part to essential details appearing separately in three different places.
How Fiduciary Advisors Can Change Wall Street—Again
Ron Rogé and NAPFA pushed, and the public pulled, big brokerages to adopt an AUM model. The same can be done with a fiduciary standard.
White Promises ‘Clarity’ on Fiduciary
While SEC Chairwoman Mary Jo White said in mid-November that the agency had not yet decided “whether to do something or what to do” regarding a fiduciary rulemaking, White said she planned to provide “clarity” as to her position regarding a uniform fiduciary rule in the “short term.”