The fiduciary debate is reopening a deep schism that has divided independent financial advisors for decades. Rather than fuel the controversy, the purpose of this post is to open an ongoing professional discussion. This will become a Tuesday series exploring all sides of the fiduciary issue affecting financial advice professionals. 

Read more ...

FINRA aims to raise arbitration awards, making it more impactful for advisors to be found at fault. The increase in awards is still in the proposal stage and is open for comment until March 20. In a simplified arbitration, there is no hearing unless the client requests it. This will save costs and it will also put advisors at greater risk since they have no forum to defend themselves. Minimal discovery and minimal involvement will make it easier to blame advisors, even in cases of market volatility. It may make it easier for clients to bring complaints since there will be no contact with the

Barney Frank's final campaign to get the SEC more funding is stalling out, but the reasons his Republican counterparts are giving reveal some interesting shifts going on in Congress.

Read more ...

The SEC chief is sticking to her guns on why the regulator needs to hire 676 more people in the new fiscal year to fight everything from Ponzi schemes to the vagaries of money market funds.

Read more ...