Regulatory & Compliance

Regulatory & Compliance (250)

CFB Board Extends Deadline for New Ethics Rule

The Certified Financial Planner Board of Standards is delaying the deadline for compliance with its new Code of Ethics and Standards of Conduct rule to June 30, 2020. So reports ThinkAdvisor.

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Securities Association Urges CFP Board to Ease Fiduciary Requirement

The American Securities Association is urging the CFP Board of Standards to ease up on enforcing its fiduciary requirement for CFP holders who comply with Regulation Best Interest. So reports Barron’s.

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Raymond James Agrees to $15M Settlement

Raymond James has agreed to a $15 million settlement to resolve a lawsuit originally filed in 2015. The lawsuit claimed the firm had inflated its fees by up to 10 times in its passport accounts, which are self-directed. So reports Financial Planning.

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Editorial Slams Regulation Best Interest

Regulation Best Interest, or BI, is throwing 401(k) investors under the bus and, contrary to its name, doesn’t require non-fiduciaries to use the best interest standard when serving clients. So argues a column in MarketWatch.

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Editorial Slams Regulation Best Interest

Regulation Best Interest, or BI, is throwing 401(k) investors under the bus and, contrary to its name, doesn’t require non-fiduciaries to use the best interest standard when serving clients. So argues a column in MarketWatch.

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Investor Safeguards Upheld by Supreme Court

The U.S. Court of Appeals has upheld a ruling by the Securities and Exchange Commission that determined that Francis Lorenzo was responsible for defrauding investors by sending emails seeking funding for a bogus waste-to-energy company. So reports Reuters.

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Senator Proposes Additional Restriction on Insider Trading

Sen. Chris Van Hollen of Maryland is preparing legislation that would instruct the SEC to study the merits of a potential rule that would prevent corporate insiders from selling stock within a specified time period after stock buybacks have been announced. So reports CNBC.

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Hawaii Senator Propose Tax on Equity Trades

 

Senator Brian Schatz of Hawaii has introduced legislation that would impose a financial transaction tax that would raise nearly $800 billion over a decade. So reports Vox.

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The Undiscussed Benefits of the Fiduciary Standard

Both sides of the debate regarding extending the fiduciary standard to all advisors are probably overstating the consequences of regulators either not enacting the rule of rejecting it.

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Client Accuses Ron Carson’s Firm of Charging Excessive Fees

An investor is claiming that the actions of Ron Carlson’s firm, Carson Wealth of Omaha, Nebraska, resulted in the individuals paying $500,000 in excessive fees. So reports Financial Planning.

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