Skip to content

DOL Fiduciary News: October 21, 2016

Please Note:

These links will take you directly to the homepage of the website that features the article.

To reach the article directly, copy and paste the article title into the search feature on the homepage of the publication website.

DOL fiduciary rule promotes a 'business form of skydiving'

InvestmentNews; Oct 20, 2016 @ 3:11 pm

The possibility of death always confronts skydiving thrill-seekers. Even with the most extreme degrees of caution — having top-notch equipment, ensuring for good weather — jumping out of a plane carries a certain level of risk.

The Labor Department's fiduciary rule is similar, in that the specter of litigation lurks no matter the compliance caution taken by brokerages and other financial institutions, a panel of attorneys said Thursday morning in a presentation on legal risk posed by the regulation.

And it's a matter of when, not if, that litigation occurs, they stressed.

SEC Sharpens Focus on Registered Investment Advisers

The Wall Street Journal; Oct. 20, 2016 9:46 a.m. ET

The Securities and Exchange Commission is stepping up its scrutiny of a fast-growing class of investment professionals and delegating more of its direct Wall Street oversight, the latest regulatory ripple stemming from last spring’s tightening of retirement savings rules.

In response to a boom in the number of so-called registered investment advisers, or RIAs, the SEC has boosted by 20% the number of examiners assigned to monitoring wealth-management firms and investment companies.

Did you accomplish the goal of your visit to our site?

Yes No