Compliance
Registered Reps With Their Own Independent RIA Must Keep Their Own Email And Social Media Archives In Addition To Their Broker-Dealer's Records
- Details Category: Books & Records
Dually-registered investment advisor representatives with their own RIA must keep their own social media and email archives. Even if your broker-dealer is keeping social and email archives for you, you must keep your own archives of these communications if you own an RIA independent of your BD.
Bachus-McCarthy Bill Exempts Those With Wealthier Clients, Leaving Small Firms To Bear The Bulk Of The Burden
- Details Category: Regulatory
If you’ve thought that advisors are not expressing opposition to the Bachus-McCarthy bill and the idea of creating an SRO to oversee both brokers and independent advisors, you probably haven’t talked to anyone in Massachusetts. A survey conducted there among 300 advisors in the state firmly—as in 98% kind of firmly—shows opposition to the House Financial Services Committee’s proposition.
What ERISA Attorney Fred Reish Says Advisors Need To Know About 408(b)(2), Fiduciary Investment Advice, And Retirement Income Projections
- Details Category: Registered Investment Advisors
Advisors, especially those who work in the employer-sponsored retirement plan market, ought to mark July 1 in their calendars and insert a reminder of the date for good measure.
That’s when the Department of Labor’s 408(b)(2) regulation goes into effect.
FINRA Comes Up Short In Examination By Government Accountability Office
- Details Category: Regulatory
There’s more action on the FINRA-SRO front as the Government Accountability Office (GAO) proceeds with its examination of the organization as mandated by the Dodd-Frank Act. The GAO examination has nothing to do with the Bachus-McCarthy bill introduced in April but its timing is indeed fortuitous for those opposed to a FINRA SRO role.
FINRA As SRO Battle Heats Up As Industry Participants Form Lobbying Group
- Details Category: Regulatory
The regulatory fight is heating up against the designation of FINRA as the industry’s self-regulatory organization (SRO). A group of financial services firms including Schwab Advisor Services will meet with lawmakers in Washington, DC on June 7 to argue against the bill introduced by House Financial Services Committee chair Spencer Bachus (R – Alabama) in April.
More Articles ...
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- Controversy About Facebook's IPO Has Little To Do With Its Effectiveness As A Marketing Tool
- Ernst & Young Survey Discloses Willingness Of CFOs To Take Bribes
- Guest Post: Robert Powell On The Spokesman For The Fiduciary Movement Who Is Now Accused Of Diverting Retirement Plan Assets To His Own Personal Accounts
