The SEC is making financial information simpler. But it’s not yet simple enough.
“In five bite-sized offerings, Chairman Jay Clayton fails to tell the public what it needs to know about RIAs vs. brokers.”
Columbia Law Professor John Coffee estimates the SEC rulemaking lowered the standard for advisers 75% and raised the standard for brokers 10%.
John Langbein, emeritus professor of law at Yale, accepted the Frankel Fiduciary Prize on September 16, 2019.
FINRA will be responsible for examining brokers for compliance, yet FINRA CEO says ‘It’s not our rule. It’s an SEC rule.’
The SEC’s new investor education videos are criticized for glossing over important details of business models and conflicts.