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 […]
Knut's Views
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 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 […]
SEC Chairman Mary Jo White’s First Investor Protection Test: Will She Opt for FINO Over the Authentic Fiduciary Standard?
By Knut Rostad Editor’s Note: This article represents a condensed version of the Institute’s newly released white paper on the March 1 SEC release (PDF). Mary Jo White has a clear opportunity to kick off her leadership at the SEC with a strong signal on investor protection. The Chairman can express support for the requirements […]
SEC Release Seeks Additional Information on a “Possible” Uniform Fiduciary Standard
The Institute applauds the Commission for seeking additional data and information regarding the costs and benefits of broker dealers putting the best interests of investors first. The important purpose of this release, however, is overshadowed by certain discussions on fiduciary duty. One such discussion concerns the duty of loyalty in a “possible” * uniform fiduciary […]
What Fiduciaries Should Be Reminded By Valentines Day
Three years ago, for Valentines Day, NYT personal finance writer Tara Siegel Bernard wrote a column, “Will you be my Fiduciary?” and discussed how investors might engage a fiduciary advisor. Bernard’s headline was clever enough, but is there is any logical link between one’s Valentine and one’s fiduciary? Not at first sight. The romantic spirit of Valentines Day, […]
