Regulation

Organizations and firms are donating N95 masks, providing resources at no cost and taking steps to protect employees and practices nationwide from the spreading pandemic.

FSI aims for a pragmatic approach when advocating on behalf of more than 90 independent broker-dealers and 30,000 financial advisors, Deputy General Counsel Robin Traxler says in an episode of the Financial Planning podcast.

These direct payments are intended to provide direct assistance to American taxpayers who have lost wages, jobs or opportunities because of COVID-19. But there is some fine print.

The regulator is seeking feedback on whether the current requirements that restrict the use of potentially misleading fund names are effective.

Overuse of “may” instead of “will” and gauzy formulations in disclosures won’t cut it despite the halt to in-person exams, an SEC official says.

The relief allows funds to obtain cash infusions through collateralized loans until the end of June.

Only a firm “actively swindling funds” would trigger an onsite visit, according to Peter Driscoll.

The policy change may prompt more defendants to reach settlements, an attorney says.

To hear some regulators tell it, “commission” is code for churning — but the fee-based vogue gives rise to reverse charges, writes Mark Elzweig.

The advisor had been previously arrested at the airport prior to boarding a flight.