Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
The rule, which takes effect in September, “protects the retirement investors from improper investment recommendations and harmful conflicts of interest,” according to Acting Labor Secretary Julie Su.
The state securities agency is trying to shut down two entities falsely claiming to be wealth management firms operating out of the same building as the agency itself.
The Office of Management and Budget is concluding its final meetings with the rule’s opponents, while House Democrats signaled their support in a letter this week.
The brokerage regulator settled two cases related to the SEC’s rule this week; one securities attorney believes FINRA has now established itself as the “primary regulator” of the rule.