BISA Portfolio
sponsorship
REGULATORY OUTLOOK
The Investment Company Institute (ICI) is lobbying to preserve money market fund regulations enacted in 2014, as the House Financial Services Committee prepares to vote on bipartisan legislation that would roll back the regulations.  [1/17/2018]
Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, said Wednesday that he is launching a review of all the federal consumer watchdog agency's policies and priorities.  [1/17/2018]
Lawmakers from both parties have introduced bills that for the first time would allow employers to offer annuities in retirement plans and greenlight the electronic delivery of employee retirement statements. Reps.  [1/16/2018]
Holding mutual funds feet to the fire when it comes to excessive fees could get a good deal more difficult if legislation is approved by the House Financial Services Committee this week making it tougher for consumers to sue, the Consumer Federation of America (CFA) said in a letter sent to lawmakers this week.  [1/16/2018]
The U.S. Supreme Court on Friday agreed to hear a challenge to the SEC's use of in-house judges to enforce investor protection laws.  [1/13/2018]
Fiduciary advocates are urging the SEC to prohibit brokers from calling themselves "financial advisors," as the agency considers a fiduciary standard.  [1/12/2018]
New Jersey state lawmakers introduced legislation this week that would require financial advisers to disclose their fiduciary status to investors.  [1/12/2018]
Cyber threats continue to increase year over year and attack techniques are more sophisticated than ever. From ransomware such as WannaCry and Petya, to denial of service (DDoS) attacks using Internet of Things (IOT) devices, to data breaches disrupting the 2016 U.S. presidential election process, cyber threats are at the forefront of our lives and likely will be for many years to come.  [10/12/2017]
In a brief filed Wednesday in a Minnesota lawsuit, the Department of Labor indicated that it had submitted to the Office of Management and Budget (OMB) a proposal to delay implementation of the remaining parts of its fiduciary rule from January 1, 2018, until July 1, 2019  [8/10/2017]
Ron Insana believes the Department of Labor’s (DOL) fiduciary duty rule is history.  [7/12/2017]
Aite Group consultants recently looked at financial advisers' daily routines. Their findings may surprise you.  [6/23/2017]
At this year’s BISA CEO Retreat, June 7-9, at The University of Chicago Booth School of Business in Chicago, attendees heard about insights and trends in the industry, as well as how to harbor an innovative and high-performing environment for executive leadership.  [6/15/2017]
Secretary of Labor Alexander Acosta promised that the Department of Labor’s fiduciary rule will go into effect on June 9, without further delay.  [5/24/2017]
Trump's Dodd-Frank review reportedly won't be done by June.  [5/9/2017]
We all are still holding our collective breath in anticipation of the DOL Fiduciary rule change’s final outcome. The universal truth we have embraced is that non-conflicted customer best interest is here to stay. It has and will continue to spur changes to compensation, business models and service platforms. I am not questioning this truth, but I do believe that our focus on DOL has obscured a broader change that is underway.  [5/4/2017]
Kehrer Bielan estimates that the typical advisor working in a bank or credit union produced annual gross revenue of $407,002 in 2016. But advisors working in the large banks produced, on average, 58% more revenue than their peers affiliated with a 3rd party BD.  [5/4/2017]
For a registered representative or advisor, the securities license represents not only a way to make a living, but also the advisor’s accomplishments and qualifications to manage money or make recommendations in the financial arena. Too often, however, representatives make mistakes that trigger regulatory scrutiny and client discontent. Most fall into about a dozen categories.  [3/1/2017]
When a registered broker/dealer discovers a significant violation of FINRA rules, it is required to file a report disclosing the matter. A common question broker/dealers then face is what else should they do? Although FINRA has offered credit for “extraordinary cooperation” since 2008, the self-regulatory organization has only given such credit in a small number of cases. Further, until recently, none of these actions allowed member firms off the hook without a penalty.  [3/1/2017]
When a registered broker/dealer discovers a significant violation of FINRA rules, it is required to file a report disclosing the matter. A common question broker/dealers then face is what else should they do? Although FINRA has offered credit for “extraordinary cooperation” since 2008, the self-regulatory organization has only given such credit in a small number of cases. Further, until recently, none of these actions allowed member firms off the hook without a penalty.  [3/1/2017]
Most Americans should wait as long as they can before “claiming” Social Security benefits, financial planners agree. But few people actually follow this plan. In fact, 62 years, the minimum age for claiming, remains the most popular age to begin receiving Social Security payments.  [3/1/2017]