Your Advisor’s Personal Trading Practices Always Matter
on June 13, 2023
with No Comments
Websites such as investor.com are useful, but not as useful as you might hope.
What is a ‘Related Person’? (SEC ADV Part 1, Item 9, Question F)
on March 24, 2023
with No Comments
Item 9 Custody offers perhaps some of the most confusing and most often changed compliance questions.
Answering SEC ADV Part 1 Item 9 Custody is Representative of a Larger Compliance Problem
on August 7, 2020
with No Comments
The SEC should scale back their data collection.
The Inconsistency of Compliance is Demonstrated by SEC ADV Part 1: Item 8G(1) Soft Dollar Benefits
on July 6, 2020
with No Comments
Identical firms answer questions like these differently making the resulting data meaningless and useless. If anyone wants to use this data, the SEC will need to standardize answers first. If no one wants to use this data, we should eliminate the burden of providing it.
Our Answers to Form CRS Conversation Starter Questions
on June 4, 2020
with No Comments
As part of the requirements, the SEC wrote passages which must be included verbatim in each relationship summary. Some of that required text are so-called conversation starter questions.
Four Possible Consequences of Regulation Best Interest
on September 2, 2019
with No Comments
These are four possible consequences of Regulation Best Interest.
Six Ways Regulation Best Interest Falls Short of a Fiduciary Standard
on August 23, 2019
with No Comments
The SEC is allowing financial professionals to hide in a lower legal requirement, not meet a fiduciary standard, and call it “Best Interest.”
SEC Regulation Best Interest Does Not Have Your Best Interests At Heart
on August 13, 2019
with No Comments
On June 5th, 2019, the Securities and Exchange Commission (SEC) released their final draft of Reg BI, or “Best Interest” as it is called.
NAPFA Challenges the Securities and Exchange Commission
on August 20, 2018
with No Comments
I couldn’t be prouder to be a NAPFA-Registered Financial Advisor.
New SEC Advice Rule Abandons Fiduciary Standard For Brokers
on April 26, 2018
with No Comments
The SEC released an embarrassingly poor 1,000 page document.
How to Comply With the SEC’s Strange New Custody Rule
on March 3, 2018
with No Comments
Compliance is never simple. Thousands of hours have been spent because the SEC refused to clarify what they expect.
How Does Compliance Differ Between Smaller Firms and Large Brokers?
on September 21, 2016
with No Comments
It is relatively easy for an adviser who has a 400 lawyer compliance department to sit through some compliance continuing education and yet never understand what attitudes and behaviors need to be changed.
Did Obama Violate an SEC Regulation?
on March 8, 2015
with No Comments
From the blind eye of the law, this seems like a violation of SEC regulation.
Failed Experiment at the SEC
on August 27, 2014
with No Comments
Those who don’t understand or experience regulatory capture wrongly believe in a team of angels at these federal agencies tirelessly working for the common good.
Five Unbelievable Financial Advisor Regulations
on March 16, 2014
with No Comments
To comply, most firms must archive and report massive amounts of information. Here are five of the more interesting regulations.
Importance of Accurate Compensation Disclosures For Consumers
on September 24, 2013
with No Comments
You deserve a fee-only fiduciary standard of care.
Government Regulations Don’t Make You Safer
on May 23, 2011
with No Comments
The United States has three sectors of the economy suffering under regulatory red tape: financial services, energy and now health care. I’m certain the financial services regulations have caused more harm than good.
SEC Requires New ADV Part 2 Disclosure Form
on April 11, 2011
with No Comments
Unfortunately, our society tends to pass feel-good legislation aimed at making people feel safer without actually making them safer.