Rep. Ann Wagner, R-Mo., will lead the House Financial Service Subcommittee on Capital Markets, which oversees the SEC and works on policies related to investor protection and capital formation.
NASAA's policy agenda asks lawmakers not to erode state oversight of unregistered securities in the effort to bolster capital formation, warning of potential investor harm.
The FPA used Jan. 6 to rethink its approach. Other associations use various methods to be heard.
If advisors who have less than a certain ownership threshold are free to leave an acquired firm, it could give buyers pause.
The GOP barely controls the House, but it's enough to allow the party to pressure the SEC chief to curb his agenda.
Finra arbitrators split, 2-1, in awarding Ryan Sanghak Lee $500,000 for wrongful termination. They also changed the reason for his departure on his Form U5 and expunged a claim that was filed following his dismissal.
The SEC also has custody and ETF regulations to tackle, while the Department of Labor continues work on the next iteration of an investment advice rule for retirement accounts.
The measure codifies Finra's practice for vetting arbitrators for conflicts of interest, and it requires a written explanation when a challenge to an arbitrator's seating is granted or denied.
Critics say the measure's due diligence and monitoring requirements for third-party providers of portfolio management and other services are unnecessary given advisors' fiduciary duty.
On first glance at the comprehensive legislation, increasing the RMD age and boosting catch-up contributions are popular.
