Tag: Regulation Best Interest

Fiduciary Advisory Firms Sue to Block SEC’s Reg BI

Two advisory firms argue they are harmed by the “best interest” rule because it causes them a competitive disadvantage with respect to broker/dealers, and because the rule will increase rather than abate investor confusion.

The DOL’s Fiduciary Race Ahead of 2021

There is precious little time remaining for the proposal and adoption of any new advisory industry conflict of interest rules that the DOL hopes to make effective during this presidential administration.

Meet Your FINRA Board of Governors Large Firm Candidates

A contested election for a seat on the FINRA Board of Governors will be settled at the annual meeting of member firms on August 19. PLANADVISER spoke recently with both candidates in the tight race for the open large firm seat.

A DOL Secretary Scalia Would Quickly Find Direction

Having served as the DOL Solicitor General under the Bush Administration, experts suggest, Eugene Scalia would likely hit the ground running as a Labor Secretary with a conservative agenda.

An Important Point About Form CRS and SEC’s Reg BI

Under the SEC’s final regulations, Form CRS requires less prescribed wording relative to the proposed version, meaning firms may generally use their own wording to address required topics and will have more flexibility to provide information to investors.

Two Weeks Left to Comment on N.J. Fiduciary Rule

All eyes might be on the SEC’s pending vote on Regulation Best Interest, but ERISA attorneys with Stradley Ronon suggest New Jersey is now “the state to watch” for advisers and brokers tracking the development of conflict of interest regulations.

SEC Publishes Favorable CRS Form User Testing Results

SEC worked with RAND Corporation to test the efficacy of its mock Customer Relationship Summary form, a key part of the broader Regulation Best Interest proposal; the positive findings differ from reports commissioned by investment industry advocacy groups.

SEC Commissioner Stein Pushes for Investor Education

While the Securities and Exchange Commission is firmly controlled by Republican-appointed members, the last Obama-era commissioner says she hopes to find room for compromise to address the pressing issues facing U.S. investors.