The Center for Board Certified Fiduciaries, a public benefit corporation, is seeking to affiliate with one or more universities to offer the fiduciary curriculum. The board also will certify fiduciary professionals in one of 10 areas of specialization.
The 430-page rule updates the agency's marketing oversight for the first time since 1961 and applies to social media communications.
The GOP commission member said the agency should provide guidance before bringing enforcement cases
The move is the latest effort by the agency to emphasize oversight of sustainability disclosure and investing. The commission's Republican members raise questions about the flurry of climate activity.
Annuities are an answer to one of the most vexing worries that Americans face – outliving their money in retirement, IRI leaders said. But a critic countered that the products need to come with more investor protections.
The agency is 'integrating climate and ESG considerations into [its] broader regulatory framework,' Acting Chair Allison Herren Lee says.
The focus on the climate and finance at the hearing likely was a harbinger of the priority the SEC will place on environmental, social and governance investing under Gensler. But Reg BI was ignored.
The measure faces a difficult legislative journey in a narrowly divided Congress, even if it becomes part of a reconciliation bill that can be approved by a simple majority in the Senate.
Finra will not require the documentation normally needed to obtain a testing accommodation. That will allow candidates to opt for an online exam if they’re reluctant to go to a test center.
An SEC official indicated reviews are still meant more to help firms comply with Reg BI than to punish them for violations of the rule. But it's a good idea to document recommendations.
