Regulatory

Dodd-Frank Legislation To Be Reviewed During Entire Month Of July

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As its two-year anniversary approaches, the benefits of the Dodd-Frank legislation are being examined—and questioned. The House Financial Services Committee led by Spencer Bachus (R-AL) is challenging the merits of the legislation, saying its tenets are proving to be more of a burden than a boon to American financial markets and investors.

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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?

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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? 

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SEC's New Investor Advisor Committee Focuses On Investor Needs Rather Than Fiducairy Status Of Intermediaries

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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.

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Congressional Hearing On Bachus-McCarthy Bill Yields Inconlusive Delay

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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.

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Bachus-McCarthy Bill Exempts Those With Wealthier Clients, Leaving Small Firms To Bear The Bulk Of The Burden

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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.

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