Regulation

Regulators are stressing fiduciary and disclosure obligations for advisory firms. Adding human oversight to AI outputs is often the answer.

The Securities and Exchange Commission proposal would eliminate a ban on investment advisors receiving government contracts within two years of making political contributions. The agency says existing laws can address pay-to-play conflicts of interest.

Firms are using AI more than ever, but few have adopted clear policies outlining human oversight or how third-party vendors should handle cybersecurity.

The SEC opened public comment on Regulation E-Delivery, a proposal that would replace its decades-old guidance-based framework and make electronic delivery the default for required investor disclosures.

FINRA's annual snapshot shows how the wealth industry is changing, from key business metrics and marketing trends to shifts in registration and a shrinking branch footprint.

As the SEC pushes to widen access to private equity, private credit and other alternative investments, Morgan Stanley and Envestnet are among firms that already have funds no longer aimed exclusively at "accredited investors."

Brooke Pilant, who was at Ameriprise from 2017 to 2024, accused the firm of turning against her after she raised concerns about "unethical practices."

On June 30, the SEC asked for public comments on the regulator's proposed amendments to novel ETFs. About a week in, responses tilt to a hard "no thank you."

As the RIA industry's own declaration of independence turns 86, its underpinnings have never been at greater risk, writes fiduciary maven Knut Rostad.