Labaton Sucharow’s second annual 2013 survey of the U.S. financial sector emphasizes the need for transparency, fairness, and accountability.
Blog
The SEC Has Lost Sight of Its Purpose
By Dan Moisand To understand the fundamental problem with the regulations surrounding personal financial advice, you need to look no further than this single sentence from the Securities Exchange Commission’s March 1 request for information on the obligations of broker dealers and investment advisers. “Assume that the uniform fiduciary standard of conduct would be designed […]
Institute for the Fiduciary Standard Urges SEC to Not Neuter Fiduciary Standard
In a July 5 comment letter to the SEC about a potential uniform fiduciary standard, the Institute for the Fiduciary Standard urges the SEC to not abandon its heritage embodied in the Advisers Act, and to not neuter the fiduciary standard. This call is based on the Institute’s analysis of assumptions on which the SEC […]
A Spade a Spade: Mercer Bullard’s Dissection of Proposed Fiduciary Legislation Offers Way Forward for Fiduciary Rulemaking
In a Congressional hearing last week at the Subcommittee on Capital Markets, Committee on Financial Services, a Fiduciary Bill Discussion Draft (DD) offered by Congresswoman Ann Wagner (R-MO), showcased the latest arguments against SEC fiduciary rulemaking. The Congresswoman’s central point was as clear as it was pungent: brokers’ clients would be greatly harmed if brokers […]
The Fiduciary Obligations of Financial Advisors Under the Law of Agency
By By Robert H. Sitkoff — “Whether a financial advisor is an “investment advisor” or a “broker” (or neither) under the federal securities laws, an advisor may be an agent under the common law of agency.”
The Retirement Gamble
Frontline’s documentary film was broadcast April 23 and is available on line at http://www.pbs.org/wgbh/pages/frontline/retirement-gamble/ “The Retirement Gamble,” offers a glimpse into the precarious state of American retirement, and a ringside seat to the battles being waged in Washington over investor protections. The major theme throughout the film is the meager retirement savings of most Americans […]
