Regulatory & Compliance

Regulatory & Compliance (282)

Rep. Ann Wagner Propose Alternative to DoL Regulation

Republican Rep. Ann Wagner of Missouri has introduced legislation that would create a new standard for advisors that would fall somewhat between fiduciary and suitability requirements. So reports InsuranceNewsNet.

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FINRA Issues Social Media Guidance

Firms that provide hyperlinks to other firms’ content or news publications have “adopted” the content, which triggers a variety of recordkeeping and document retention requirements, according to recent FINRA guidance. So reports Forbes. Read more...

Nevada Passes Fiduciary Standard

Nevada has passed a bill requiring brokers, advisors and sales representatives to adhere to a fiduciary standard. So reports Insurancenewsnet.

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Regulators Shut Down Advisor Who Made Misleading Statements

The Michigan Department of Licensing and Regulatory Affairs has fined Creative Wealth Strategies and its principal $120,000 and has ordered the firm to cease operations following an investigation into violation of securities rules. So reports Downtown Publications. Read more...

SEC Commissioner Expresses Concerns Over Crowd Funding

SEC Commissioner Michael Piwowar says he’s concerned that many investors don’t fully understand how the simple agreement for future equity works as part of crowd funding. So reports CrowdFundInsider.

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Labor Secretary Seeks Long-term Freeze of Fiduciary Proposal

Labor Secretary Alexander Acosta has told Senator Tim Scott, a Republican from South Carolina, that he wants to put a halt to the fiduciary rule in a way that will “stick.” So reports InsuranceNetNews. Read more...

Fiduciary Standard Likely to Live on Despite Trump Action

The fate of the Department of Labor’s Fiduciary Standard is increasingly uncertain following the presidential election of Donald Trump, but various factors are likely to result in a growing number of financial firms adopting rigorous standards for providing advice to retirement investors.

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Regulators Force Long-Term Care Insurer to Close

In an unusual development, regulators are forcing long-term care insurer Pen Treaty of Allentown, Pa., to liquidate its assets and shut down its operations, which is leaving many of its shareholders with only a $300,000 benefit provided by some states. So reports The New York Times.

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SEC Identifies Top Exam Deficiencies

Inaccurate regulatory filings, violations of custody rule requirements, code of ethics issues, recordkeeping problems, and insufficient written policies are five areas that have involved the most common deficiencies discovered during Securities and Exchange Commission exams. So reports JD Supra Business Advisor. Read more...

Morgan Stanley to Cut Fees Despite Fiduciary Rule Uncertainty

Morgan Stanley plans to cut its fees and make other changes that would be required under the Department of Labor’s Fiduciary Standard rule even though the requirement may be terminated by President Trump. So reports Bloomberg. Read more...

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