Staff members of the Securities and Exchange Commission share some words of wisdom for advisers and broker/dealers newly subject to the Regulation Best Interest framework.
Negative reactions immediately piled in from concerned stakeholders and consumer advocates who say the proxy voting rule amendments will stifle shareholder engagement.
‘Credential stuffing’ is a method of cyberattack to client accounts that uses compromised client login credentials, resulting in the possible loss of customer assets and unauthorized disclosure of sensitive personal information.
Reg BI, a new fiduciary rule proposal from the DOL and state-enacted fiduciary rules—what advisers should keep in mind.
As with its guidance related to environmental, social and governance investing, the Department of Labor’s stance on proxy voting and other forms of retirement plan investor shareholder rights has become a political football.
The past two presidential administrations have taken starkly different views on the topic of conflicts of interest in the financial services industry, so it is only natural to ask what might happen after the November election.
Market volatility related to COVID-19 may have heightened the risk of misconduct in various areas that the SEC staff believes merit additional attention from advisers and compliance professionals.
The proposed disclosure framework would feature ‘concise and visually engaging shareholder reports,’ according to the federal securities market regulator.
The platform is known as ‘GRACE’ and seeks to make it easier for advisory firms to meet the requirements of Regulation Best Interest while working in a remote-first setting.
The firm was also charged with mutual fund share class violations.
Advocacy organizations representing the fiduciary advisory industry are smarting after the Securities and Exchange Commission finalized restrictive new proxy voting rules.
The main theme of the new fiduciary rule proposal is alignment with other regulators—the SEC and FINRA in particular—but the agency is by no means surrendering its jurisdiction over tax-qualified retirement plans.
The Department of Labor has taken yet another step forward in what has been more than a decadelong effort to update the fiduciary duty applying to investment professionals serving workplace retirement plans.
Multiple national-level conflict of interest rules are now aligned that will require financial professionals to act in the best interest of consumers.
The 2nd U.S. Circuit Court of Appeals found the regulation, which goes into effect tomorrow, is authorized by Dodd-Frank and is not arbitrary and capricious.
A nearly unanimous Supreme Court has seemingly set new limits on the punitive authorities of the U.S. Securities and Exchange Commission (SEC), though just how much has changed is up for debate.
Such alignment would be consistent with what the Department of Labor leadership has been signaling for a number of years now.