The mutual fund industry will be one of the targets of more-aggressive enforcement by the SEC, according to experts who spoke last week at an Investment Company Institute conference
In 2,300 pages of legislation overhauling the U.S. financial regulatory system, there is no section or subsection entitled “mutual funds,” an indication that they were not seen as a primary culprit in the market crisis that shook the economy three years ago.
The shifting of thousands of investment advisers to state regulation is months away, but the Securities and Exchange Commission is busily laying the groundwork for the transition.
Republicans on the House Financial Services Committee are urging the Securities and Exchange Commission to refrain from imposing a universal fiduciary duty of care for retail investment advice
Securities and Exchange Commission Chairman Mary Schapiro told a congressional panel last Tuesday that spending reductions of the magnitude sought by Republicans would force the agency to cut back investment adviser examinations substantially
Preoccupied by a battle over federal spending, Congress has barely begun considering another piece of budget balancing: comprehensive tax reform
In the wake of the recent SEC report that recommends a universal fiduciary standard for personalized retail investment advice, most attention has focused on the potential impact on broker-dealers
The new consumer protection agency won't extend its jurisdiction to areas involving investment advisers or insurance agents, according to a Treasury Department official involved with setting it up
B-D and advisory groups look to a) speed up, or b) slow down adoption of single standard of care
Securities and Exchange Commission officials tried to assure Congress last week that the SEC's examination and enforcement divisions are working together more effectively to catch and prosecute rogue advisers such as Robert Allen Stanford, who allegedly bilked clients out of $8 billion.
