Expect the SEC To Get Tougher on Advisers, Advocate for Retirement Savers
The change in agency leadership has driven a clear change in focus and a new sense of urgency to act...
Tag: SEC
Compliance News
Legislative and Judicial Actions
The SEC returns to cybersecurity enforcement pledge; Form 5500 revisions; revenue-sharing disclosure failures result in SEC action; and more.
TIAA Faces New Managed Account Rollover Complaint Months After Settling SEC Charges
A new lawsuit suggests the individual advisory program TIAA clients were rolled into was significantly more expensive and generated hundreds of millions of dollars in fees for TIAA—without...
PANC 2021: Telling Your Story
Financial advisers have new opportunities when it comes to marketing, branding and thought leadership, but there is fine line between...
PANC 2021: Investigation Lessons Learned From Experience
One tip is that being in a state of audit-readiness is essential for retirement plan advisers and their plan sponsor clients—both for peace of mind and to make...
Revenue Sharing Disclosure Failures Result in SEC Action
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...
SEC Sanctions Offer New Cybersecurity Guideposts
One former SEC enforcement leader says actions against several advisory firms that allegedly had cybersecurity failures make a clear case...
SEC Makes Good on Cybersecurity Enforcement Pledge
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...
Consumer Protection Motivates Barbara Roper’s Move to SEC
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 Eyes Data Collection Conflicts in New Comment Request
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.
RIAs Leave NYC in ‘Mini Exodus’; More Move to Florida
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.
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‘Like’ Me
How to procure, and use, client endorsements to advertise your practice.
An ESG Refresher as DOL Makes Progress on New Regs
Industry experts are watching for the imminent filing of new Department of Labor regulations pertaining to the use of environmental,...
Lawmakers Aim to Reform Index Linked Annuities Registration Regs
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.
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...
SEC to Revisit Proxy Rule Amendments
The agency will address criticism that the changes make advisers’ roles in proxy voting more cumbersome.
SEC Settles Charges Against GWFS Equities for $1.5 Million
The Great-West Life affiliate was accused of violating the federal securities laws governing the filing of Suspicious Activity Reports.
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...