As the enforcement date approaches for the sweeping Regulation Best Interest rulemaking package, FINRA is working hand-in-hand with the SEC to ensure effective coordination—and to support advisers working on associated compliance challenges.
Tag: Regulation Best Interest
The 2nd Circuit has been asked to halt the implementation of the SEC’s Regulation Best Interest by a coalition of parties that now includes the lead sponsors of the Dodd-Frank Act.
Critics of the Massachusetts fiduciary rule say it will interfere with the implementation of the SEC’s Regulation Best Interest; proponents say that’s exactly the point.
The Democratic presidential candidate tells Department of Labor Secretary Scalia she fears the DOL is considering standards of conduct that would permit advisers providing advice on retirement savings to engage in conflicts of interest.
Supporters of the Massachusetts proposal say the state-based regulations will be far more effective in tamping down on brokerage industry conflicts of interest compared with the national Regulation Best Interest.
The SEC tackles this question and others in a new FAQ publication about the Regulation Best Interest rulemaking package, as does Morningstar in a new paper that examines the regulation’s impact on specific business models.
In addition to the ambitious Regulation Best Interest package, the securities and market regulator is making significant changes to the proxy voting landscape and its rules for adviser advertising.
The National Association of Insurance Commissioners is seeking to update its rules and restrictions on the sales of annuities so they better harmonize with the SEC’s Regulation Best Interest.
Advisory firms waiting to see whether the 2nd Circuit will delay or outright halt the implementation of the SEC's Regulation Best Interest are wasting precious time.
It is well-established that clauses containing a specific statutory grant of jurisdiction to the court of appeals should be construed in favor of review by the court of appeals.
The rule blurs the line between advice and sales, potentially hurting both advisers and investors, he says.
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.
Board of Governors candidate-by-petition Chris Flint has defeated the FINRA-preferred candidate Andrew Duff.
The self-regulatory organization says it will help members implement the SEC's sweeping new conflict of interest disclosure rules.
The Financial Services Institute and the Insured Retirement Institute have both published open letters opining against ambitious conflict of interest regulations proposed in the state.
Advocacy and lobbying organizations representing the interests of brokers/dealers and investment advisers operating in New Jersey continue to voice their disapproval of the proposed regulations.