8/30/2010
Ask and ye shall receive. The SEC requested industry comment on its proposed rule that would change the way target date funds are marketed (IA Watch, June 28, 2010) and it attracted more than 40 comments. Many praised the agency's efforts, but included ideas for improvements.Michael Issac, the CCO a ...
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8/23/2010
This news recalls Claude Rains declaring that he's "shocked, shocked" to find gambling at Rick's Place in Casablanca but it appears brokers are telling the SEC not to extend to them a fiduciary duty standard. The Committee for the Fiduciary Standard last week released an early tally of comments rece ...
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8/9/2010
A compliance officer in Pennsylvania summarizes the conundrum - ah, let's make that, problem - with the SEC's demand that advisers create a plain-English Form ADV Part 2 brochure: It's a disclosure business."You tend to over-disclose, which means you're no longer plain English because you're trying ...
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8/9/2010
Now that the clock ticks toward a deadline to comply with the SEC's Form ADV revisions, the words of a CCO in Baltimore may sound like your own."Where do you find time?" she asks, as she reflects on a year that has wrought a custody rule revision, a pay-to-play rule, a quick response to the SEC's pe ...
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08/04/2010
The SEC's proposed rule that would eliminate 12b-1 fees and transition to a new 12b-2 fee. This was released in August 2010.
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8/2/2010
The clock's ticking on perhaps the SEC's most important initiative affecting how retail investors receive advice. Last week, the Commission released a request for comment in response to Congress's six-month deadline that it study the harmonization of investment advisers and broker-dealers, including ...
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8/2/2010
Your 2011 update to your firm's Form ADV will include a plain-English brochure describing your firm, along with brochure supplements for clients to know more about their reps, according to the final rule amending Form ADV, which the SEC released last week.The final rule directs firms to write "a nar ...
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07/30/2010
This is the SEC's request for comment related to the congressionally mandated study of investment adviser and broker-dealer harmonization, including possibly expanding the fiduciary duty standard. The comment period ends August 30, 2010.
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07/29/2010
The final rule, released by the SEC in July 2010, for Form ADV amendments, including calling for a plain-English brochure for Form ADV Part 2.
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7/26/2010
Rather than fixing mutual fund fees around the edges, SEC commissioners appear intent on creating new Investment Company Act rule 12b-2, which would spell out how funds can pay for marketing and other costs.Last week the commissioners unanimously voted to issue a proposed rule - you have until Nov. ...
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