Regulatory
A Financially Literate Society Could Be A Boon To Advisors
One of the hallmarks of the Dodd-Frank legislation is its new definitions of terms. For example, the definition of a family office and also of a family member has much more specificity than before. Financial literacy is another term whose definition is approaching a standard. By formulating standard definitions of such terms, it becomes much easier to regulate financial and wealth management.
Financial literacy has long been a focal point for wealthy families. Their insistence on financial and business education for their progeny has only become more firm. In terms of the general soc
Despite SEC Claims, New Enforcement Activity Has Actually Declined
SEC officials have bragged about taking on a heavier case load in 2011 despite "resource constraints" and increased Washington scrutiny. The actual performance seems a bit less clearly impressive.
Compliance Officers' Supervisory Role Remains Nebulous At The SEC
After a recent case where a compliance officer was charged -- but not fined -- for failing to fire a broker who broke the rules, the SEC is trying to nail down exactly what the role entails.
SEC Impersonator Not Winning Friends At The Regulator
Attempts to pose as authority figures to get people to hand over cash are an age-old problem for the actual authorities, which is why the SEC is taking the latest scam very personally.
FINRA Requests Comment On Ways To Increase Investor Use Of BrokerCheck: My Suggestion Is To Consolidate Advisor Licensing Databases And Open It To Search Engines
FINRA is requesting comment on ways to boost investor use of BrokerCheck, the self-regulatory agency’s website where consumers can find a broker’s disciplinary and employment history.
Specifically, FINRA requests comment on potential changes to the information disclosed through BrokerCheck, the format in which the information is presented, and strategies to increase investor awareness of BrokerCheck.
