Several policies that affect advisers — in addition to the SECURE 2.0 retirement-savings bill — catch ride on last vehicle moving through Congress this year.
The measure contains 92 retirement savings provisions — including increasing the RMD age, raising catch-up limits and expanding automatic enrollment — that give Republicans, Democrats and the financial industry plenty to love.
One of the challenges of regulating these investments is that there’s no agreed-upon definition for them.
As financial advisers turn to complex products to help clients navigate volatile markets and rising interest rates, regulators are scrutinizing the investments more closely than ever.
Legislation that would make electronic investor communication the default method for disclosures sends a message this year, but will have to be reintroduced next year.
If SEC Chairman Gary Gensler can engage with potential opponents while keeping advocates on the SEC’s side, ESG could score more policy wins next year.
CFP Chair Kamila Elliott said the current political environment would make it too difficult to obtain legal recognition of financial planning.
But they need to be aware of stepped-up regulatory scrutiny of complex products, an expert tells advisers at the Financial Planning Association annual conference.
The panel will conduct the first comprehensive assessment of the education, examination, experience and continuing education requirements related to the CFP mark.
The organization representing financial planners wants to obtain legal recognition of the profession, a process that could involve a long, winding road through state and federal legislatures.
