Democratic bills in Congress would codify the Biden administration's proposal, but Republican support is lacking.
Securities and Exchange Commission Chairman Gary Gensler said his agency will determine when digital engagement practices used by online platforms cross the line into investment advice.
Proponents say special purpose acquisition companies help ordinary investors participate in private equity markets. Regulators are concerned about conflicts and fees in the complicated public offerings.
The rule goes 'significantly beyond' suitability, and firms should give their reps the tools they need to 'identify, disclose and mitigate conflicts prohibited under Reg BI,' Gurbir Grewal said.
The devastating consequences of a default make it unlikely to happen, advisers say. Inflation is a bigger threat.
Rep. Ann Wagner, R-Mo., raised concerns about what Gensler's recent hiring of Barbara Roper means for the future of the Regulation Best Interest standard of conduct.
Republicans are upset about auto-IRA and other proposals in the $3.5 trillion budget reconciliation package. Will their ire carry over to SECURE 2.0?
A recent Financial Industry Regulatory Authority Inc. rule change gives reps five years to return without having to retake qualifying exams.
Self-directed IRAs are a growing area of concern at the state level, as enforcement actions more than doubled last year.
The problem has continued its upward trajectory, said the lawyers organization, since releasing its first report in 2016.
