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SEC final advice rule hearing updates
The compliance deadline for Reg BI for brokers is June 30, 2020.
Podcast: The SEC advice rule just hit — here’s what advisers need to know today
Senior reporter Mark Schoeff Jr. speaks with managing editor Christina Nelson about tensions at the SEC hearing, the final vote and the latest insights on the new regulatory package.
SEC releases new details on investment advice reform package
Statement and fact sheet clarify four measures in the just-approved financial advice standards.
SEC reforms impose new requirements on brokers and advisers, but some argue not enough
New rules stress disclosure of conflicts, but fall short of creating a uniform fiduciary standard.
SEC orders Pennsylvania Ponzi operator to disgorge $1.5 million
Insurance agent James Hocker promised investors returns of 30%, but kept the money.
Investor advocates slam SEC advice reform on eve of Reg BI vote
Barbara Roper says the new regulations 'will mislead investors into expecting protections the rules do not deliver and deprive them of protections they currently receive.'
What to look for in the final SEC advice rule
After 6,000 comment letters, here are the key points advisers want the SEC to resolve in its final rule package.
Historical timeline of the SEC advice rule
Here are the major milestones on the journey toward the agency's final advice reform package
What the new DOL fiduciary rule will probably look like
The regulation can't mirror the SEC's advice rule, but could borrow many of its key concepts.
SEC busts RIA for padding advisory fees by 40%
In addition to overcharging clients, Stephen Brandon Anderson overstated his assets under management in SEC filings.
SEC to tackle thorny topic: How much advice brokers can give without being an adviser
Language in the Investment Advisers Act of 1940 exempts brokers from registering as investment advisers — and being fiduciaries — if their advice is "solely incidental" to their work.
SEC, NASAA and Finra issue Senior Safe Act fact sheet
Information is intended to help promote greater reporting of suspected financial exploitation.
SEC files amended complaint in Woodbridge Ponzi scheme case
Adds names of 16 "advisers" and unlicensed financial firms to civil suit.
Auditor: Future of broker-dealer with history of problems is in doubt
Newbridge Securities faces large deficit and negative cash flows.
SEC sets June 5 date for vote on Regulation Best Interest
Commission adds new item to agenda: Interpretation of broker guidance that qualifies as advice
SEC bars four ‘advisers’ for selling unregistered Woodbridge securities
Sales of high-commission notes and private placements were at issue.
State regulators release model cybersecurity rule
Under the proposal, investment advisers would have to establish written policies to safeguard client data.
Hopes high for bill to ease small-firm adviser regulations
High-ranking, bipartisan members of the House Financial Services Committee back the legislation
Brokerages sound off on Regulation Best Interest
Small-brokerage executive expresses concern over lack of specifics about what is 'best,' given an inability to make perfect investment choices for every client.
How much is enough compliance? SEC grumbles about firms’ efforts to cover risks
One consultant suggests spending 5% of revenue to fully address compliance needs.
