Client Service June 16th, 2023 Senior Safe Act Incentivizes Reporting Financial Exploitation of Seniors Experts explained during a FINRA webinar that the act provides financial institutions immunity for reporting potential exploitation of senior citizens.
Compliance June 13th, 2023 SEC Issues Rare ‘Pre-Emptive’ Warning in Expanded Marketing Rule Risk Alert The SEC is getting out ahead of potential adviser missteps in following its new client marketing rules—but advisers should still...
Compliance June 9th, 2023 SEC Broadens Adviser Marketing Rule Compliance Exams The regulator has added three new areas of review to the adviser marketing rule that has been in effect since...
In Practice May 31st, 2023 House Passes Small Entity Update Act to Evaluate Size Cutoff for Advisories The bill would require the SEC to study and update its definition of ‘small entity,’ which could significantly impact independent...
Compliance May 30th, 2023 FINRA Fines Vanguard for Overstating Money Market Projections A ‘technical’ issue led to overstated projections of yield and income for nine money market funds for about 8.5 million...
Compliance May 26th, 2023 Gensler Defends Swing Pricing Proposal at ICI Conference Managers who asked the Fed for help during the pandemic but who oppose swing pricing should “look in the mirror,”...
Compliance May 19th, 2023 SEC’s Gensler Confirms AI is Regulatory Priority Chairman Gary Gensler said at a conference that he has directed the SEC to explore the regulatory implications of AI...
Compliance May 18th, 2023 SEC’s New Stock Buyback Rules Come Under Legal Challenge The Chamber of Commerce has sued the SEC in the 5th Circuit and seeks a review of a new SEC...
Compliance May 17th, 2023 Common Pitfalls in Reg BE, BI, According to FINRA, SEC Riskier and complicated assets require more due diligence, and regulatory officials laid out some practices for advisers to avoid.
Data & Research May 17th, 2023 Advisers, Participants Skeptical of ESG Investments, but Asset Managers Are Not Greenwashing by investment funds has contributed to negative rhetoric about ESG, but the practice remains a top initiative for U.S....
Compliance May 16th, 2023 SEC Head Gensler Says Reg BI Not ‘Check the Box’ Exercise The SEC chairman made remarks about Reg BI, Reg BE and about AI’s role in the markets at FINRA’s annual...
Compliance May 11th, 2023 House Republicans Eye SEC Regulatory, Enforcement Budget A letter from the House Financial Services Committee calls for a freeze on the SEC’s enforcement budget and the defunding...
Compliance May 10th, 2023 Industry Voices Object to SEC Safeguarding Rule Adviser advocacy and interest groups expressed disapproval for the SEC’s proposal, citing discretionary trading concerns and limiting annuity use.
Compliance May 8th, 2023 SEC Charges Pinnacle Advisors With Liquidity Rule Violations The SEC complaint says Pinnacle knowingly mispresented the liquidity of some assets to satisfy liquidity requirements.
Compliance May 8th, 2023 SEC Swing-Pricing Rule Would Make Participants Second-Class Investors The president and COO of Nationwide Financial argues the rule would be bad for retirement plan and annuity product investors.
Compliance May 5th, 2023 SEC Safeguarding Rule Would Expand Investment Oversight to Crypto, Artwork A proposed rule whose comment period ends Monday would have advisers obtain written agreements that segregate client assets to protect...
Compliance May 1st, 2023 House Bills Would Expand Accredited Investor Pool to Include Clients of Advisers The House Committee on Financial Services advanced a bill that would allow RIA clients to invest in unregulated offerings such...
Compliance April 28th, 2023 House Committee Unanimously Approves Bill Requiring SEC to Study Size Cutoff for Advisory Firms The Small Entity Update Act requires the SEC to revisit the ‘small entity’ definition of advisory firms every five years.
Compliance April 21st, 2023 Execution Quality Disclosure, Tick-Size SEC Proposals Enjoy Industry Support Mandatory auctions and Reg BE are considerably less popular.
Compliance April 20th, 2023 SEC Updates Guidance on Adviser Investment Obligations The latest guidance adds teeth to initial Regulation Best Interest, passed in 2019.