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Investment Advisor January 1, 2011 Melanie Waddell |
FINRA Jockeys for SRO Spot as SEC Report to Congress Nears The Financial Industry Regulatory Authority is engaged in a full-court press to convince the SEC that it should be the SRO for advisors.  |
Financial Planning March 1, 2011 Larry Light |
The Tradeoff Registered investment advisors may end up getting to know a new regulator, but the tougher fiduciary standard they live under will also be extended to cover their broker-dealer rivals.  |
Investment Advisor April 1, 2011 Ron Rhoades |
An Alternative to FINRA Oversight "I expect FINRA and its allies to continue to push to extend its jurisdiction to some or all investment advisors," says Investment Adviser Association Executive Director David Tittsworth.  |
Investment Advisor July 1, 2011 Bob Clark |
If You Want Something Done Right It's beginning to look like the only way Dodd-Frank reregulation is going to turn out well is if RIAs form their own SRO.  |
Financial Advisor July 2011 Andrew Gluck |
Redefining Financial Advice The fate of professionalization and the FPA hang in the regulatory balance.  |
Financial Advisor November 2011 Evan Simonoff |
What Gives At The SEC? For several decades, the Securities and Exchange Commission has contended that it does not have sufficient resources to examine and inspect RIAs. Consequently, many have concluded that Finra is the default option for all RIA regulation.  |
Investment Advisor December 21, 2010 James J. Green |
FSI Endorses FINRA as SRO for Investment Advisors Dale Brown says FINRA option is "best way to address the regulatory gap."  |
Financial Advisor November 2009 Jeff Schlegel |
The Great Debate Financial services reform is coming. How will it impact advisors?  |
Financial Planning December 1, 2011 Bob Veres |
Regulatory Armaggedon The Republican leadership in Congress has proposed that the SEC authorize one or more self-regulatory organizations to take over regulation of RIAs. This has been coordinated with massive Wall Street lobbying.  |
Registered Rep. December 15, 2011 French & Britton |
Updated: Boston Consulting Group Report: FINRA Twice as Costly SEC for Investment Adviser Oversight According to BCG's report, which was sponsored by firms and groups who support having the SEC oversee investment advisers, setting up FINRA to oversee investment advisers would be twice as costly as giving the SEC the funding it needs.  |
Financial Advisor June 2012 Jim McConville |
Advisor Groups Renew Challenge To Finra's SRO Cost Estimates A coalition of financial advisor industry groups last month resumed its assault on the Financial Industry Regulatory Authority's cost estimates for creating a self-regulatory organization to review investment advisors.  |
Investment Advisor July 1, 2011 Melanie Waddell |
Fiduciary D-Day Arrives As the SEC launches into rulemaking, lots of 'thorny issues' will surface.  |
Registered Rep. January 19, 2011 Kristen French |
In Dodd-Frank Report, SEC Champions User Fees Over SRO The study and report were meant to address a trifecta of problems: a history of weak oversight of investment advisers, current shortfalls in SEC funding and the regulator's rapidly expanding responsibilities under Dodd-Frank.  |
Investment Advisor February 1, 2011 Melanie Waddell |
2011: The Year the Advisors' Playing Field Fundamentally Changes All eyes this year will be focused on the exchanges that will ensue between lawmakers and the Securities and Exchange Commission regarding putting brokers under a fiduciary mandate and appointing a self-regulatory organization.  |
Investment Advisor February 2009 Melanie Waddell |
Is Mary What the SEC Needs? The alternative to FINRA overseeing advisors, and what advisors would definitely prefer, is a self-regulatory organization.  |
Registered Rep. September 13, 2011 Kristen French |
Long Legislative Fight Kicks Off with House Hearing On SRO, Fiduciary Standard Congressman Scott Garrett opened Tuesday's House Financial Services Committee hearing on an SRO for investment advisers and a fiduciary standard for broker/dealers with a threat.  |
Investment Advisor April 1, 2011 |
SEC and the Fiduciary Study: Politics and the Fiduciary Standard AdvisorOne Wealth Editor Kate McBride explains the political process under which Dodd Frank was passed, up to the SEC's reports on an SRO and fiduciary standard  |
Registered Rep. November 4, 2009 Bill Singer |
Rep. Bachus Slips One In (Not Everyone Is Cheering) Has Capitol Hill taken its legislative legerdemain to new depths?  |
Registered Rep. March 9, 2011 Kristen French |
Law Students, Mercer Bullard Launch SRO For Investment Advisers Their group would rival FINRA, the self regulatory agency for broker/dealers and currently the leading contender for the job.  |
On Wall Street February 1, 2013 Kenneth Corbin |
Regulatory Forecast Bodes Change Advisors could see talks on oversight and a fiduciary standard move forward this year.  |
Investment Advisor May 2010 David Tittsworth |
What a Reinvigorated SEC Will Mean for You The first in a series of occasional commentaries by the executive director of the Investment Adviser Association.  |
Financial Advisor July 2009 Sherri Scordo |
Compliance Concerns There's a lot of buzz these days about potential changes in compliance rules and the impact on advisors.  |
Investment Advisor March 2009 James J. Green |
Broker/Dealer Briefing: A Shot Over the Bow FINRA is quietly conducting a sweep of broker/dealers that could be the first steps to having the SRO take over regulation of registered investment advisors from the SEC -- something the former NASD has long desired.  |
Investment Advisor July 2009 Bob Clark |
Clark at Large: Reality Check Washington is far more likely to tweak the existing system than to rewrite the investment advisor legislation.  |
Financial Planning July 1, 2012 Bob Veres |
Gaps of Logic FINRA has been an effective bludgeon against the small independent B-D world, creating paperwork requirements whose costs are best amortized over larger hordes of retail advisors.  |
Investment Advisor July 2010 Melanie Waddell |
A Whirlwind of SEC Activity Harmonization of advisor and B/D rules will move forward.  |
Registered Rep. October 6, 2011 Andrew J. Haigney |
Opinion: FINRA Is an Ineffective Regulator FINRA, the brokerage industry's self-regulatory organization, finds itself in caught up in the industry's death spiral. This non-government, private corporation's fortunes are tied to brokerage firms.  |
On Wall Street July 1, 2009 Helen Kearney |
The 'F' Word Stirs Up Controversy Advisors who fall under the new fiduciary standard, namely investment advisors who run a fee-based business, must always put clients' interests before of their own.  |
Financial Advisor October 2012 Brian Hamburger |
Sleight Of Hand The apparent death knell of Finra as an SRO by no means signals victory.  |
Registered Rep. March 15, 2013 Megan Leonhardt |
A "Tougher" FINRA? FINRA has stepped up the number of cases and the value of fines they levied against advisors last year, but that doesn't neccessarily mean that the indstury's self-regulatory organization is getting any tougher.  |
Investment Advisor May 1, 2011 Bob Clark |
The Polar Bears Thawing out our modern black and white thinking could save the fiduciary standard. I don't usually write about politics, except when it has a direct impact on financial advice, and this appears to be one of those times.  |
Investment Advisor June 1, 2011 Melanie Waddell |
Schapiro Says SEC to Focus in July on Fiduciary, 12b-1 The Commission will look at fund regulation "in tandem" with RIA/BD reform.  |
Financial Advisor May 2011 Andrew Gluck |
Finra Makes Its Move Who regulates financial advisors may shift. Here's a look at the positions various groups are taking on fiduciary standards.  |
Financial Advisor October 2009 Kristina Fausti |
A Higher Standard It appears that the SEC will remain the primary federal regulator of investment advisors, at least for now.  |
Investment Advisor March 1, 2011 Melanie Waddell |
House, Senate Hearings Next on Fiduciary Industry groups lobby for user fees to fund advisor exams in lieu of an SRO.  |
Registered Rep. July 30, 2007 Halah Touryalai |
FINRA Sticks as SEC Approves Regulator Consolidation After some minor bumps along the way, the NASD and NYSE merger is official.  |
Investment Advisor July 2009 Melanie Waddell |
Danger & Opportunity: Bracing for Change It looks to be all but inevitable that the rules for broker/dealers and investment advisors will be harmonized, and that broker/dealers offering investment advice will have to adhere to a fiduciary standard of care.  |
Financial Advisor February 2011 Evan Simonoff |
A Different Playing Field Regulatory reform is at the top of RIAs' minds going into 2011.  |
Investment Advisor February 1, 2011 John Sullivan |
FSI OneVoice 2011: FINRA CEO Ketchum Defines Fiduciary as It Applies to BDs, Advisors The Financial Services Institute's OneVoice 2011 conference kicked off in Phoenix Monday night with a question-and-answer session with Richard G. Ketchum, chairman and CEO of the Financial Industry Regulatory Authority.  |
Registered Rep. December 11, 2009 Kristen French |
House Passes Regulatory Reform, SRO Up In The Air The Wall Street Reform and Consumer Protection Act of 2009 passed by a narrow margin. But it will still be a long time before the regulatory future for broker/dealers and investment advisers is clear.  |
Registered Rep. January 11, 2011 Kristen French |
Expect SRO For Advisers, Fiduciary Fix For Brokers Compliance consultants, securities lawyers and lobbyists overwhelmingly agree that the SEC will recommend both.  |
Investment Advisor March 1, 2011 Melanie Waddell |
SEC Fiduciary Rule May Hit by Summer Despite the advisory industry's hopes that the Securities and Exchange Commission would get a quick start on writing a rule to put brokers under the same fiduciary standard as advisors, it looks as though a rulemaking could come by summer.  |
Financial Planning March 1, 2011 Bob Veres |
Gold Into Straw In mid-January, the SEC released its "Study on Investment Advisers and Broker-Dealers" to Congress. Analyzing the study provides an insightful look into how the SEC views the "harmonization" of two different regulatory structures.  |
Investment Advisor May 2008 Mark Johannessen |
Embracing Change on Our Own Terms Given the recent announcement by the Treasury Department of an ambitious reform package for the financial services industry, financial planners have no choice but to prepare for change.  |
Registered Rep. January 15, 2009 |
Schapiro's Replies: Blame The SEC--Not FINRA--For Madoff It wasn't her job, man.  |
Financial Planning February 1, 2012 John F. Wasik |
State of Regulation As states take over regulation of RIAs with up to $100 million in assets under management, many firm owners are wondering if the transition will prove difficult.  |
Registered Rep. June 29, 2010 Halah Touryalai |
The New Sheriffs In Town The SEC examines about 9 percent of the 11,000 or so advisory firms under its jurisdiction annually. All of that is about to change with a little help from regulators at the state level.  |
On Wall Street December 1, 2010 Alan J. Foxman |
When FINRA Intervenes Even non-member firms (such as registered investment advisors) can voluntarily agree to use either FINRA's arbitration or mediation services.  |
Registered Rep. June 17, 2009 Christina Mucciolo |
The Fiduciary Battle Continues, Now Under Federal Microscope Among other measures, the Obama administration proposed today that the Securities and Exchange Commission require that broker-dealers offering investment advice be held to the fiduciary standard rather than the suitability standard.  |
Investment Advisor December 2009 Melanie Waddell |
Danger & Opportunity: Staggering Toward Reform Investor Protection Act passes with lots of fiduciary-related amendments; action on Dodd not likely until 2010.  |