'Last fiscal year’s results demonstrate yet again the Division’s effectiveness,’ says SEC Chair Gary Gensler.
If a federal shutdown occurs, the SEC would cease most operations, potentially jeopardizing pending rules. The IRS would also go quiet as advisors wait for SECURE 2.0 guidance.
'Senate Democrats are highly unlikely to go along with [those provisions] that have been inserted into appropriations bills in the House,' says an official at an advisor trade association.
'We're not trying to change Reg BI or change the fiduciary guidance,' the SEC chair says at SIFMA's annual conference.
'Finra provides essential services ... thousands of firms, hundreds of thousands of registered persons, and millions of American investors rely upon,' the North American Securities Administrators Association says in a brief.
Rita Robbins, the 2023 recipient of the Alexandra Armstrong Award for Lifetime Achievement, founded Affiliated Advisors 30 years ago, a ground-breaking move in a career that has created new opportunities for women.
'It’s a devastating award, or lack thereof, for the claimants and a massive victory for Raymond James,' says an attorney not involved in the case.
'My suspicion is that if [Scott’s bill] passes, then the number of Main Street investors who are sold an unregistered security will far exceed the number of Main Street investors who actually go looking for such a product,' an advisor says.
'The best kind of regulation is when the private sector works with regulators to craft regulation that is efficient, effective, workable and narrowly targeted,' says the architect of the Obama DOL's fiduciary rule.
'I just want you to know we're watching,' President Biden warns advisors who put their own interests above needs of clients.
