Industry
Ranking House Financial Services Committee Member Frank Introduces Legislation To Merge SEC And CFTC
Rep. Barney Frank (D-MA) is scheduled to retire in a few weeks but not before he introduces another major piece of legislation.
The co-author of the Dodd-Frank Act has now introduced a bill to merge the Securities and Exchange Commission (SEC) with the Commodities Futures Trading Commission (CFTC).
FINRA Is Pushing For Disclosure Of Signing Bonus Deals To Clients...And Why Shouldn't They?
FINRA is considering requiring advisors and their firms to disclose fully to clients the details of incentive packages when advisors switch firms.
Danny Sarch at Investment News thinks this is a good idea, mainly because other advisors at the migrating advisor’s former firm are likely to jump on the departee’s accounts and may say things that call into question the advisor’s reason for leaving.
In A Blow To Registered Reps With Non-Compete Agreements With Their BDs, U.S. Supreme Court Reaffirms That Arbitrators—Not The Courts—Determine Enforceability Of Non-Compete Provisions
Nearly all registered representatives’ contracts with their broker/dealers require them to resolve disputes in arbitration. They are also mandatorily arbitrable under FINRA Rules. In addition, many reps’ contracts contain non-compete provisions. The U.S. Supreme Court on November 26, 2012 issued a decision reaffirming that it is up to the assigned arbitrator to determine whether non-competition provisions are enforceable, and said courts cannot interfere and substitute their views for those of the arbitrators.
Higher-Net-Worth Households Are Key Ingredient In Advisor Business Growth
A new report from PriceMetrix says households that have assets of $250,000 or greater are key to growing advisor businesses in the future.
Serving households with less than that amount actually costs advisors money. Revenue from serving these households decreases $270 annually while annual revenues from larger households increase by $1650.
New Rules For Independent Advisors In UK To Kick In January; UK Rules Prohibiingt Commissions For Independents May Offer Ideas For Solving The Fiduciary Debate In U.S.
From December 31, advisors in the United Kingdom will have to be much clearer about the type of advice they give, whether it is independent or restricted, and what fees they will charge for it.
More Articles ...
- If All Alan Goldfarb Did Wrong Was Describe His Compensation As Salary On FPA’s “Find A Planner” Website, Did That Merit The Investigation That Compelled His Resignation? A Plea For Understanding
- Like Their Investor Clients, Advisors Looking To Do Transactions Are Rushing To Close By The End Of The Year When Tax Breaks Expire
- Guest Post: Ron Rhoades, A Leader In The Fiduciary Movement, Says CFP Board Chairman Alan Goldfarb Did The Right Thing By Resigning
- IMCA Sets Out To Define “Wealth Management” But Critics And Competitors Take Issue With The Definition
