Views on improving the integrity of global capital markets

SEC


SEC’s Investor Advisory Committee Urges Full Transparency on Bond Trades

IAC’s Kurt Schacht: “For too long, the fixed-income market has had a veil … around fees, bid-offer spreads, and [broker/dealer] mark-ups. Retail investors in particular are looking for some sunshine.”

SEC Seeks Public Input on Improving Effectiveness of Investor Disclosures

Can the business and financial disclosure requirements of Regulation S-K be improved? Investors have an opportunity to help shape the new rules.

SEC Investor Group: Mutual Funds and ETFs Should Provide Better Cost Disclosures

The group is worried about investment fund costs, said CFA Institute managing director Kurt Schacht, CFA. Our study shows even a 1% annual fee can consume over 30% of investors’ returns over 40 years.

DOL Fiduciary Rule: Though Complex It Moves Investment Advice Model in Right Direction

The US Labor Department has released its final fiduciary rules for retirement advice. While the rules steadfastly maintain their requirement for a best-interests contract for most arrangements between investors and nonfiduciary advisers, the federal agency relented on a number of troublesome implementation matters.

The IEX Application: Some Further Comments

Our TabbFORUM article on the IEX exchange application generated a lot of feedback. Will the SEC OK the current application? Will encouraging time-delay competition among exchanges benefit investors?

IEX Exchange Application: SEC’s Reassessment of Reg NMS Critical to Decision

Market structure issues rarely attract mainstream media attention. But IEX application gets to the heart of the integrity of the market, the efficacy of the regulatory framework, and whether investors have a fair opportunity to earn a return.

SEC Exam Priorities: What Investment Managers Can Expect in 2016

Protecting retail investors and retirement savers, assessing marketwide risks, and data analytics are top exam priorities.

Is the Sun Rising on Dark Pools? The SEC Wades into the Shadows

How can we prevent the Barclays and Credit Suisses of the world from committing dark-pool fraud? The SEC has a proposal.

DOL Fiduciary Rule: What Are the Implications for the Investment Industry?

Since the Department of Labor issued its sweeping — and controversial — fiduciary rule proposal last April, the investment industry has remained largely divided on stricter requirements for investment professionals working with retirement plans.

SEC Investor Advisory Group to FASB: Materiality Is Material

In a strongly worded letter to the Financial Accounting Standards Board (FASB), the Investor Advisory Committee (IAC) at the US Securities and Exchange Commission objected to the Board’s proposals to “clarify” materiality, saying it would make matters worse for investors.

Investment Industry Regulators Tackle Financial Exploitation of Older Adults

Recent proposals by NASAA and FINRA aimed at protecting the elderly from financial exploitation represent the latest attempts by regulators and industry groups to rein in unscrupulous practices.

Labor Fiduciary Rule Proposal Safe … for Now

Despite attempts to gut, or at least delay, the Labor Department’s fiduciary rule, other priorities ultimately ruled the day for Congressional opponents.

DOL Fiduciary Rule: Political Grandstanding, Fearmongering Overshadow Investor Needs

As the Department of Labor, Congress, and the investment industry spar over a proposal to raise investment advice standards for retirement accounts, it’s easy for some to lose sight of what’s important: the need to protect investors.

DOL Fiduciary Rule Proposal: Armageddon or Start of Promising New Era for Investors?

It’s hard to remember a regulatory proposal that has generated such polarization.



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