Urges commission to extend standard of care to brokers, not devise new rule
It didn't take long for the lobbying to reignite on a bill that would establish one or more self-regulatory organizations for investment advisers after Rep. Spencer Bachus, R-Ala., prevailed in his primary on Tuesday. An interest group was soon paying respects.
Exchange traded funds will soon undergo more scrutiny on Capitol Hill. Sen. Jack Reed, D-R.I., chairman of the Senate Banking Subcommittee on Securities, Insurance and Investment, indicated that he would follow up on a hearing he held last year on the investment vehicles with another one in coming weeks.
Highlighting such filings should help the public make more-informed decisions when choosing a financial planner, group says
Legislation may be introduced this week that would move investment advisers from Securities and Exchange Commission oversight to a self-regulatory organization. Or maybe a bill won't come out until next week or later. No one seems to know for sure – and the House Financial Services Committee won't confirm anything. Whenever it starts to move, the bill would introduce big changes to adviser regulation.
IAA plans 'lobbying day' to convice lawmakers to drop plan; Finra said to be actively pushing for the gig
Opponents of a pending Department of Labor rule that would increase the standards for investment advice for retirement plans have insisted that the agency conduct a cost-benefit analysis before proposing a regulation. The difficulty the agency faces in satisfying critics was evident at an event in Washington on Tuesday.
Americans are sick of watching politicians squabble in a capital riven along partisan lines – a sentiment that is reflected by investment advisers.
