Here you’ll find posts and commentary about the role and activities of the Securities and Exchange Commission, including enforcement actions, the promulgation of new compliance requirements, speeches by SEC Commissioners, etc.
We’re months away from December, but it felt like a fiduciary rule Festivus on Capitol Hill Sept. 10 as members of Congress aired their grievances about the Department of Labor’s (DOL) proposed extension authority to regulate assets contained in retirement accounts.
Treasurers from states in every region of the United States, as well as two of its largest cities, sent a letter to Securities and Exchange Commission Chair Mary Jo White arguing that general partners should be required to do a better job of disclosing private equity fees.
July 21 provided a poignant example of the back-and-forth over the proposed fiduciary rule, as Labor Secretary Thomas Perez testified on Capitol Hill about it, while across town SEC member Daniel Gallagher sent the DOL a public comment letter criticizing it.
The Department of Labor will be changing its proposed fiduciary rule regarding brokers, DOL Deputy Assistant Secretary Timothy D. Hauser said at a July 16 Washington, D.C. meeting of the Securities and Exchange Commission’s Investor Advisory Committee.
Cyber attacks, and the threat they pose to firms that provide finance-related services and their clients, prompted the recent release by the SEC’s Division of Investment Management of some steps that can protect against them.
The Securities and Exchange Commission and Department of Labor are both working on fiduciary issues — but their different approaches appear to be on different schedules.
Secretary of Labor Thomas Perez used his first appearances before the 114th Congress to deliver a full-throated defense of the DOL’s controversial effort to expand the fiduciary standard of care to financial service providers under the jurisdiction of the department.
Securities and Exchange Commission Chair Mary Jo White confirmed March 17 that the commission will “implement a uniform fiduciary duty for broker-dealers and investment advisors where the standard is to act in the best interest of the investor.”
The Labor Department has repeatedly claimed to be consulting with the Securities and Exchange Commission on its fiduciary reproposal — but a couple of key House Republicans would like to see some proof.
The Department of Labor’s much-anticipated fiduciary reproposal has drawn intense criticism from SEC Commissioner Daniel M. Gallagher.
Filers of Forms 5500 and M-1 will now be able to prepare for 2014 filing. Advance copies of the 2014 Forms 5500 and 5500-SF are now available, the DOL’s Employee Benefits Security Administration announced on Dec. 15.
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