A recent cease-and-desist order filed by the Securities and Exchange Commission underscores the fact that revenue sharing among financial advisers and ‘parties in interest’ is not necessarily an inherent problem—but a failure to disclose the relationship and the potential for conflict is.
Earlier this year, the agency published a list of 2021 examination priorities that prominently featured issues pertaining to cybersecurity, and now it has sanctioned eight firms for related cybersecurity failures.
SEC Chair Gary Gensler says her focus as a senior adviser will be on issues relating to retail investor protection, including broker and adviser oversight and examinations.
SEC Chair Gary Gensler says the emergence of new investment technologies that embrace gamification and collect user data raises questions as to whether investors are appropriately protected.
The COVID-19 pandemic has presented an opportunity for firms to reconsider their physical footprint and relocate their headquarters to new areas that better suit their needs.
Industry experts are watching for the imminent filing of new Department of Labor regulations pertaining to the use of environmental, social and governance themed portfolios by tax-advantaged retirement plan investors.
A bipartisan group of representatives is seeking to require the Securities and Exchange Commission to revise its rules regarding the development and offering of certain annuity products.
A subsidiary of TIAA will settle conflict of interest charges related to the provision of rollover advice to employer-sponsored retirement plan participants; the development offers up some important considerations for financial services professionals.
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 Insurance Commissioners.
No matter if an adviser is a flat-fee registered investment adviser or a commission-based broker/dealer, the DOL says the collection of compensation related to rollover guidance is almost always going to be a prohibited transaction, triggering the need for an exemption.
The agency will address criticism that the changes make advisers’ roles in proxy voting more cumbersome.
The Great-West Life affiliate was accused of violating the federal securities laws governing the filing of Suspicious Activity Reports.
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 the state’s highest court.
The full title of House Resolution 2123 is the Diversity and Inclusion Data Accountability and Transparency Act; among other goals, it seeks to require regulated financial firms with more than 100 employees to disclose diversity data.
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.
He takes the helm at the Securities and Exchange Commission during a key time of transition and reflection for the market regulator, which is engaged in multiple important projects affecting advisers’ and brokers’ practices.