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SEC Issues
The Securities and Exchange Commission (SEC) is among the federal agencies that an employer must provide information to concerning pension and retirement benefits other than pensions (OPEB). A new report takes a look at the comments SEC staff have made to registrants on the SEC website concerning...
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The Securities and Exchange Commission (SEC) Division of Corporate Finance has provided some comfort for those who offer self-directed brokerage accounts.The Compliance and Disclosure Interpretation (CDI) deals with issue of whether a company-sponsored 401(k) plan that does not offer an employer...
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Securities and Exchange Commission (SEC) Chair Mary Jo White has reiterated that her agency’s fiduciary rule is coming, but “not any time soon.” White made her remarks on Sept. 27 at the Securities Industry and Financial Markets Association’s capital markets conference annual meeting in Washington...
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Securities and Exchange Commission Chair Mary Jo White told the Senate Committee on Banking, Housing, and Urban Affairs on June 14 that her agency is indeed working on a fiduciary rule of its own, but will not be issuing it anytime soon. She made her remarks in testimony to the committee as part of...
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The Securities and Exchange Commission (SEC) will proceed with its work on investment advice standards rules and oversight of advisors. SEC Chair Mary Jo White made that announcement on Feb. 19 at the Practising Law Institute conference in Washington, D.C.According to Investment News, White said...
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The Securities and Exchange Commission (SEC) will proceed with its work on investment advice standards rules and oversight of advisors. SEC Chair Mary Jo White made that announcement on Feb. 19 at the Practising Law Institute conference in Washington, D.C.According to Investment News, White said...
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The good news is that the Securities and Exchange Commission (SEC) has established a date for issuance of a notice of proposed rulemaking (NPRM) for the Personalized Investment Advice Standard of Conduct.The bad news? That date, according to the SEC Office of Management and Budget’s fall agenda, is...
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Securities and Exchange Commission Chairman Mary Jo White on Nov. 18 faced some tough questions from members of the House Financial Services Committee from both parties concerning her agency’s work on setting a uniform fiduciary standard of conduct. White was testifying before the committee...
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The Securities and Exchange Commission (SEC) is working “expeditiously” on a uniform fiduciary standard, according to SEC Chair Mary Jo White. She made her comments at the Nov. 10 annual meeting of the Securities Industry and Financial Markets Association (SIFMA).White reported that her agency is “...
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They may not have been willing to block the Department of Labor’s (DOL) fiduciary proposal with legislation, but a group of Democratic members of the U.S. House of Representatives are asking for some additional time to comment on the final proposal before it’s final.The request comes in the form of...
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The U.S. House of Representatives passed legislation Oct. 27 that would block the Department of Labor from finalizing its fiduciary proposal until the Securities and Exchange Commission weighs in.By a 245-to-186 margin, the House passed the Retail Investor Protection Act of 2015 (H.R. 1090), which...
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An Oct. 23 hearing by a subcommittee of the House Financial Services Committee became the latest stage on which House members expressed frustration over proposals related to fiduciary regulation. The Subcommittee on Capital Markets and Government hearing, “Oversight of the SEC’s Division of...
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Not one, not two, but three former chairs of the Securities and Exchange Commission (SEC) want the agency they ran to join the effort to set a fiduciary rule. They made their remarks at a TD Ameritrade summit in Washington, D.C. on Oct. 6.Harvey Pitt, Christopher Cox and Mary Schapiro all expressed...
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We’re months away from December, but it felt like a fiduciary rule Festivus on Capitol Hill Sept. 10 as members of Congress aired their grievances about the Department of Labor’s (DOL) proposed extension authority to regulate assets contained in retirement accounts.Two subcommittees of the House...
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Require general partners to do a better job of disclosing private equity fees. That’s the message that treasurers from states in every region of the United States, as well as two of its largest cities, sent to Securities and Exchange Commission Chair Mary Jo White in a recent letter.The treasurers...
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The Pushmi-Pullyu, a two-headed animal character from author Hugh Lofting’s Doctor Dolittle series of children’s books, does not actually exist. But the back-and-forth over the Department of Labor’s proposed fiduciary rule is enough to make one wonder if maybe they really do after all.July 21...
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The Department of Labor (DOL) will be changing its proposed fiduciary rule regarding brokers, DOL Deputy Assistant Secretary Timothy D. Hauser said on July 16. Hauser made his remarks at a Washington, D.C. meeting of the Securities and Exchange Commission’s Investor Advisory Committee.Hauser told...
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Cyber attacks, and the threat they pose to firms that provide finance-related services and their clients, prompted the recent release by the SEC’s Division of Investment Management of some steps that can protect against them. The SEC intended the tips for financial services firms and advisors, but...
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The Securities and Exchange Commission and Department of Labor are both working on fiduciary issues — but their different approaches appear to be on different schedules. On March 24, it was SEC Chair Mary Jo White’s turn to take questions from Congress regarding the commission’s plan to impose a...
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Secretary of Labor Thomas Perez used his first appearances before the 114th Congress to deliver a full-throated defense of the DOL’s controversial effort to expand the fiduciary standard of care to financial service providers under the jurisdiction of the department.Perez appeared at two...
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