Compliance
The Deadline For Filing For State Registration Is Next Week!
- Details Category: Registered Investment Advisors
The deadline is fast approaching for midsize RIAs who must register with their states to do so. By June 28, approximately 2400 such firms will switch their registrations from the SEC to state regulation. Failure to meet the deadline can have big consequences: the firms’ registration may be revoked.
Why Is CalPERS Always Getting Appointed To Head Investor Protection Efforts? If You Want To Protect Investors, Aren’t There Other Capable Representatives Less Politically Entwined?
- Details Category: Regulatory
CalPERS Chief Investment Officer Joe Dear Wednesday was named chairman of the Securities and Exchange Commission's new investor advisory committee. Why? If you really want to protect retail investors, why appoint a huge institutional investor that's so engrained in the current Wall Street regulatory regime?
Another Bad Turn In The Tragic Saga Of Matt Hutcheson, Onetime Spokesman For Fiduciaries
- Details Category: Registered Investment Advisors
The Matt Hutcheson saga continues, as the onetime spokesman for the fiduciary movement was ordered by a U.S. District Court in Idaho from overseeing a 401(k) plan holding the retirement savings of about 500 participants. In granting the U.S. Department of Labor's (DOL) motion for preliminary injunction against Matthew D. Hutcheson and Hutcheson Walker Advisors LLC, the court found that DOL had "demonstrated the type of immediate and irreparable injury necessitating entry of a preliminary injunction."
SEC's New Investor Advisor Committee Focuses On Investor Needs Rather Than Fiducairy Status Of Intermediaries
- Details Category: Regulatory
Protecting retail investors and bolstering their confidence in the marketplace is the focus of the Investor Advisory Committee as it meets for the first time on Tuesday, June 13. SEC head Mary Schapiro feels the committee will be very instrumental in helping the SEC formulate its new definition and requirements for fiduciaries.
Consumer advocate Barbara Roper claims the greater benefit for retail investors would be to focus on regulating intermediaries from the standpoint of their fiduciary status.
Congressional Hearing On Bachus-McCarthy Bill Yields Inconlusive Delay
- Details Category: Regulatory
Testimony during the Congressional hearing June 6 on the Bachus-McCarthy bill, the Investment Advisor Oversight Act of 2012, was divided along industry lines. The overall consensus was, however, that the bill was insufficient and would impose too great a cost burden on smaller firms.
More Articles ...
- Registered Reps With Their Own Independent RIA Must Keep Their Own Email And Social Media Archives In Addition To Their Broker-Dealer's Records
- Bachus-McCarthy Bill Exempts Those With Wealthier Clients, Leaving Small Firms To Bear The Bulk Of The Burden
- What ERISA Attorney Fred Reish Says Advisors Need To Know About 408(b)(2), Fiduciary Investment Advice, And Retirement Income Projections
- FINRA Comes Up Short In Examination By Government Accountability Office
