Instead of generating anxiety among advisors, sweep contains no hidden surprises, says compliance expert.
As the SEC marketing rule nears its first anniversary, most firms have yet to take advantage of the testimonials and endorsements it allows.
'We see a lot of angst from advisors that are frustrated that the federal [SEC] firms get to' use client testimonials and reviews in advertising 'but they can’t do it in their state,' says XYPN co-founder Michael Kitces.
The measure is likely to make a rollover recommendation a fiduciary act. But if the agency doesn't complete the measure soon, it's vulnerable to being overturned by the next Congress and White House.
The final regulation targets 'greenwashing' but strips out what would have been 'a more onerous' ESG provision, a lawyer says.
Lawmakers say changes would hurt retirement investors. They also raise concerns about a proposal to curb advisor conflicts related to AI.
Investment Adviser Association files petition pushing agency to make number of staff, not AUM, the deciding factor in defining a firm as 'small.'
Over nearly three years 'our branch examiners have refined their skills and become very adept at identifying risk remotely,' insists LPL Financial.
Hodgepodge of different regulations needs addressing, says securities lawyer.
Leader accused of proposing regulations that are ‘sowing discord and confusion.'
