Another prominent fiduciary is in trouble, this time for what the SEC calls a combination of secret commissions and outright "lying" about the liquidity of various investments.
The Labor Department has opened an investigation on Matthew Hucheson, a retirement plan consultant previously known in Washington as a vocal and articulate advocate of the fiduciary code.
A Georgetown University professor is arguing that setting up a self-regulatory organization for advisors would be difficult and expensive, so advisors should simply find accountants to audit their records.
As the deadline for mid-size RIA firms to move from SEC supervision to the states approaches, state regulators have put together a list of common mistakes they see.
State securities regulators are publicly worried that efforts to push RIAs into a self-regulatory organization would render their own activities irrelevant.
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