Federal Regulation
Get the latest news and insights on regulatory developments affecting financial advisors and the stock market and trading, including news about the SEC, DOL, IRS and the Financial Industry Regulatory Authority.
Robert Miller: Educating the SEC
By Brian AndersonRobert Miller has spent his one-year term as NAIFA president informing the SEC about the potential unintended consequences of a universal fiduciary standard. Will these efforts be enough to preserve commission-based compensation?
July 27, 2012
SEC, FINRA Enforcement Roundup: $268M Insider Trading Scheme BustedCharges of insider trading in a secondary stock offering, accounting violations and efforts by a phony company president to push a fake penny-stock investment were among enforcement actions taken by the SEC.
July 26, 2012
FSI to FINRA: This Is the Wrong Time for Higher FeesPart of FSIs engagement with FINRA is to let them know when they have gone too far. That is clearly the case with the substantial fee increases the organization has proposed for broker-dealers and financial advisors, increases that would hit small firms the hardest.
July 25, 2012
To Thwart SRO, Rep. Waters Introduces User Fee BillMaxine Waters, D-Calif., introduced on Wednesday a bill that would allow the SEC to collect user fees from advisors to fund their exams in lieu of an SRO.
July 25, 2012
The Penalty Box: Would Stiffer SEC Fines Make Evildoers Think Twice?An upcoming bill would raise the penalties the SEC can impose on financial ne'er-do-wells. Maybe Congress time would be better spent increasing the likelihood that the SEC will catch anyoneby, oh, I dont know, maybe increasing their funding?
July 24, 2012
Broker Suitability Rule Takes EffectA new FINRA rule on suitability of recommendations by brokerages and brokers to customersand to prospective customerstook effect on July 9, and with it come a number of issues of which firms and advisors alike need to be aware.
July 24, 2012
Borzi on the Hot Seat, AgainPhyllis Borzi is once again feeling heatthis time from House Democratsover her insistence on including individual retirement accounts (IRAs) in the Department of Labors reproposed fiduciary rule.
July 24, 2012
SEC, NASAA Tell Small Businesses: Wait to Join the ‘Crowd’The SEC and state regulators are warning small businesses and entrepreneurs to hold off on crowdfunding.