1. Efforts To Reinstate Glass-Steagall Could Pave The Way For RIA Market Share Gains
(Matching tags: Advisor businesses,infrastructure,regulation,Dodd-Frank)

If you were waiting for the other shoe to drop in the banking-investment world, you don’t have to wait any longer. The regulatory waters are stirring like crazy. Calls for the reinstatement of the ...

2. 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
(Matching tags: RIA compliance,regulation,RIAs,yen,Dodd-Frank,fiduciaries,FINRA,advisor industry people)

The U.S. Department of Labor, in a complaint filed yesterday in U.S. District Court, alleges an advisor used more than $3.2 million of the retirement savings of workers from multiple employers for personal ...

3. The SEC And Mutual Fund Industry Trade Group ICI Are At Odds Over Money Market Fund Regulation
(Matching tags: sec,mutual funds,regulation)

The SEC and the ICI, the mutual fund industry’s trade group, continue to be at odds over how the SEC plans to regulate money market funds. Some of the proposals include whether the net asset value ...

4. Historic Bankruptcy Results In New Disclosure Rules For Municipals
(Matching tags: municipal bonds,fraud,regulation)

New rules are being designed for trading municipal bonds as a result of the largest municipal bankruptcy in history involving Jefferson County, Alabama. The rules are designed to ensure that the same ...

5. Hidden Rebates On Trade Execution At Stock Exchanges May Be Costing Investors Money
(Matching tags: investing,regulation)

A recent study exposed incentive fees stock exchanges offer brokers as an incentive to do business with them. It highlights poor order routing that allegedly fueled additional trade execution costs of ...

6. CFP® Board Invites Commentary On Its Proposed Sanctions For Policy Violators
(Matching tags: CFP Board,regulation,questions)

The CFP® Board is opening a forum for comment on its newly proposed disciplinary guidelines. These are the guidelines that propose public reprimand or possible revocation of CFP® certification ...

7. SRO Bill Introduced In The House Will Likely Fail In The Senate
(Matching tags: FINRA,regulation,sec)

The introduction last week of a bill that could make FINRA the industry’s SRO may not matter that much in the scheme of things. This is because the Senate has become known for killing House bills. ...

8. FINRA Reprimands A Member Of Its Own Board
(Matching tags: regulation,FINRA,SRO)

During the same week that a House bill was reintroduced by Financial Services Chairman Spencer Bacchus that could pave the way for FINRA to become the financial services industry’s self-regulatory ...

9. Bill To Make FINRA The SRO For RIAs Reintroduced, Sparking Protest In Some Quarters And Approval In Others
(Matching tags: regulation,RIAs,SRO,FINRA)

The campaign to make FINRA the self-regulatory organization for Registered Investment Advisers was renewed today as House Financial Services Chairman Spencer Bachus reintroduced legislation that would ...

10. Cost-Effectiveness May Derail DOL's Expanded Application Of "Fiduciary"
(Matching tags: regulation,fiduciaries)

The latest development in the Department of Labor’s (DOL) effort to include retirement plan advisors as fiduciaries is centered on cost effectiveness. The expanded application of fiduciary duty ...

11. New Bill Will Propose FINRA As Industry SRO
(Matching tags: compliance,regulation,FINRA)

A Republican bill that would make FINRA the regulatory body for investment advisors may soon come on the floor. Republican Spencer Bachus is drafting the legislation and is expected to introduce it to ...

12. Long-Time Independent Advisor Goes The Other Way, Joins Ameriprise
(Matching tags: regulation,breakaway brokers)

After being on his own since the early 1980s, a Texas advisor has gone back to the employee model. The motives are simple: compliance and technology.

13. SEC Forms New Committee In Line With Dodd-Frank
(Matching tags: regulation,sec,Dodd-Frank)

As part of the Dodd-Frank Act, the SEC is forming a new investor advisory committee designed to submit recommendations to the commission having to do with almost all of its oversight functions. It will ...

14. CFP Board Changes Experience Requirement And Procedures For CFPs Filing For Personal Bankruptcy As Well As Key Disciplinary Rules
(Matching tags: profession,regulation,CFP Board)

The Certified Financial Planner Board of Standards, Inc. today announced a change to its requirement that candidates obtain three years of experience in the profession, saying that two years of fulltime ...

15. IRS Gets Involved In Monitoring Municipal Bond Transactions
(Matching tags: Internal Revenue Service,IRS,municipal bonds,regulation)

The IRS put together a team in February to investigate municipal bond transactions. It is interviewing its Tax-Exempt Bond personnel about questionable transactions involving possible bid rigging ...

16. Does Advising On IRAs Make You A Fiduciary And Can A Computer Model Absolve You Of Your Fiduciary Responsibility?
(Matching tags: regulation,retirement plans,fiduciaries,sec)

AdvisorOne earlier this week reported on how section 408(g) of the Employee Retirement Income Security Act (ERISA) Pension Protection Act (PPA), a recent addition to ERISA, might exonerate broker-dealer ...

17. Satisfying Client Demand For Alternatives In Retirement Accounts Is Being Weighed In Light Of Increased Regulatory Scrutiny
(Matching tags: asset allocation,retirement,regulation)

With the recent regulatory attention to non-traded REITs and other private investments, it’s becoming more difficult to satisfy client demand for alternative investments in their retirement accounts. ...

18. Deadline For Switch To State Regulation Is Extended
(Matching tags: compliance,RIA compliance,regulation)

RIA firms needing to change from SEC oversight to a new program offered by the North American Securities Administrators Association (NASAA) have another month to do so. The initial deadline for selecting ...

19. SEC Spends Funds On Mandated Consulting But Can't Afford To Implement Recommendations
(Matching tags: sec,regulation)

Since the 2008 credit crisis, the SEC has been criticized for its lack of effective management and organization. But it spent so much money getting recommendations for restructuring that it can no longer ...

20. New Survey Says Dodd-Frank Will Help Restore Client Trust
(Matching tags: client satisfaction,compliance,Dodd-Frank,regulation)

A new survey shows financial industry executives think that the new Dodd-Frank regulations will help restore investor trust. Reputations in the industry were harmed by the 2008 credit crisis as investors ...