SEC Flexes Regulatory Muscle with RIAs, Brokers in Focus
The SEC is warning advisers and broker/dealers that it is time to tighten up policies around conflicts of interest and...
Tag: Reg BI
Calls on Congress to Fully Fund Reg BI Implementation
An open letter to two U.S. Senators emphasizes that the SEC must receive sufficient fiscal support to effectively oversee the...
Broker/Dealer Charged in First SEC Reg BI Case
The SEC says Western International Securities failed to act in the best interest of customers when the firm allegedly sold...
SEC Names Director of Division of Examinations
Leaders at the SEC say the role of the examinations program is critical for capital markets to function well and...
24 States Have Now Adopted the NAIC Annuity Transaction Framework
With South Carolina joining the party, nearly half of all states have now adopted enhanced consumer protections applying to the sale of annuities, as developed by the National...
How Thoughts About the SEC’s Regulation Best Interest Have Evolved
Nearly two years into the enforcement of Reg BI, debate continues about its influence on the advisory and brokerage industries.
ERISA vista
An Objectivity Lesson
The more objective the presentation, the less likely it will seem like advice.
Mississippi Is Latest State to Embrace NAIC Annuity Sales Rules
Supporters of the NAIC annuity transaction suitability model say a fiduciary-only approach to annuity purchase advice would limit consumer choice—a claim its opponents dispute.
Broadridge Fi360 Offers Enhanced Solution Ahead of DOL IRA Rollover Requirements
The Decision Optimizer tool offers a customizable, turnkey solution to help financial advisers and home-office clients comply with evolving ERISA plan/IRA transfer regulatory requirements.
Dissecting TIAA Subsidiary’s $97 Million SEC Rollover Settlement
A subsidiary of TIAA will settle conflict of interest charges related to the provision of rollover advice to employer-sponsored retirement...
Producers Beware: More States Adopt NAIC Annuity Suitability Framework
Earlier this month, Alabama became the 13th state to adopt enhanced consumer protections for purchasers of annuities, based on a framework put forward by the National Association of...
A DOL Fiduciary Rule and PTE Refresher
No matter if an adviser is a flat-fee registered investment adviser or a commission-based broker/dealer, the DOL says the collection...
New York Annuity Suitability Law Struck Down by State Appeals Court
Though significant in its own right, the appellate ruling could potentially be stayed if (and when) it is appealed to the New York Court of Appeals, which is...
ERISA Attorneys Digest the DOL’s New PTE FAQ
The guidance published by the Department of Labor reminds the industry that boilerplate, fine print disclaimers that investment advice is not being provided won’t cut it.
Gary Gensler Confirmed by Full Senate Vote as SEC Chair
He takes the helm at the Securities and Exchange Commission during a key time of transition and reflection for the...
From Ohio to Virginia, More States Look to Update Annuity Standards
The states’ embrace of the NAIC annuity transaction suitability framework comes as experts are raising broader questions about the durability of the SEC’s Regulation Best Interest, on which...
Reading Into the SEC’s 2021 Enforcement Priorities
The ongoing implementation of Regulation Best Interest gets top billing in the SEC’s recently published 2021 examination priorities list, though...
SEC Chair Gensler’s Confirmation Hearing Displays Parties’ Priorities
Democrats used Gary Gensler’s confirmation hearing to speak to issues of racial and wealth inequality exacerbated by the pandemic—which has...