Regulatory reform

The Investment Adviser Association contends federal regulators have not taken into account the likely onerous cumulative effects of their proposals on cybersecurity, outsourcing and data security.

INVEST 2023 panelists and the latest SEC risk alert suggest the regulator will treat the rule much like one that has cost big Wall Street firms more than $2 billion in fines.

A top FINRA enforcement official warns that firms' internal compliance systems are not clued in to the often ambiguous meanings of the symbols now peppering many financial planners' communications.

Dennis B. Levine, a central player in the 1980's most notorious insider trading scheme, benefits from the regulator's fix, but so will some everyday financial planners.

Industry groups question the wisdom of regulators seeking to have one rule on data breaches for broker-dealers and another one for advisors.

Proponents of the House of Representatives legislation argue that new regulations often fall disproportionately on financial planners that don't have formal compliance and legal departments.

Although most advisors and brokers see both pros and cons to operating outside the office, few are ready to abandon their new schedules.

FINRA argues that brokerage representatives should have the ability to keep information about private residences out of public databases.

Panelists at the self-regulator's annual conference list instances when they should document the reasons for the investment advice.

For the first time, the brokerage's self-regulatory body is citing the 3-year-old rule as a reason to remove a firm from the industry.