“In five bite-sized offerings, Chairman Jay Clayton fails to tell the public what it needs to know about RIAs vs. brokers.”
Advisor News
Law professors Denounce SEC’s Reg BI; Underscore the Rule’s Clear Break from 79 Years of Settled Law in Advisers Act of 1940
Columbia Law Professor John Coffee estimates the SEC rulemaking lowered the standard for advisers 75% and raised the standard for brokers 10%.
John Langbein Awarded the Frankel Fiduciary Prize
John Langbein, emeritus professor of law at Yale, accepted the Frankel Fiduciary Prize on September 16, 2019.
FINRA will Defer to SEC on Interpreting Best Interest Rule
FINRA will be responsible for examining brokers for compliance, yet FINRA CEO says ‘It’s not our rule. It’s an SEC rule.’
New SEC Videos Aim to Help Investors Identify Brokers vs. Investment Advisers
The SEC’s new investor education videos are criticized for glossing over important details of business models and conflicts.
N.Y. Supreme Court Upholds State Fiduciary Rule For Annuities
The New York Supreme Court has upheld the state’s contentious fiduciary rule governing annuities and lift insurance sales practices.