Regulatory
SEC Approves New "Switch" Rule for Mid-Sized Investment Advisors
Earlier this week, the U.S. Securities and Exchange Commission (“SEC”) approved a new rule “switching” regulatory responsibility from the SEC to state securities regulators for mid-size investment advisers (between $25 million and $100 million of what will now be known as “regulatory” assets under management).
Switch Of Mid-Size RIAs To State Supervision Is Official
Despite some speculation earlier this year that the SEC would delay implementing the Dodd-Frank changes to the Investment Advisers Act of 1940, the new rules are now on the books and the enforcement clock is ticking.
SEC Approves Separate Registration For Backoffice Staff, But Lawyers Still Worry
After a relatively brief revision process, the SEC has given the green light to an unpopular FINRA proposal to regulate a lot of the support staff who have peripheral interactions with investor accounts.
Decisions On Fiduciary Standard And Regulator Of RIAs Delayed Officially
Since movement in Washington can make watching paint dry look fast, none of the trade news outlets for advisors yesterday covered the fact that the SEC made its delay official yesterday. Don't expect any decisions regulatory issues affecting advisors anytime soon.
DOL Beefing Up Enforcement Of Retirement Plans
Retirement planning officials take note: The Obama administration is ramping up enforcement efforts to combat the large number of retirement plans that it says are not compliant with retirement planning rules and regulations.
More Articles ...
- SEC Proposes Deeper Scrutiny Of Broker-Dealers
- Obama Nominates Securities Lawyer To SEC, But Don't Expect It To Speed Up Decisions On Regulatory Reform Issues Affecting Independent Financial Advisors
- SEC Shuts Down "Major League Baseball" Celebrity Prospecting Scheme
- SEC Updates Congress On Ponzi, Porn, Other Scandals
