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Summary:A coalition of national financial advisor groups have launched a campaign aimed at the telling the SEC—as well as the public—to heed the differences between advisor and brokers when contemplating the commission's proposed Regulation Best Interest standards for FINRA-licensed brokers and SEC-registered advisors.
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Summary: Transitioning to a new broker dealer or RIA firm is as appealing as using someone else’s toothbrush. You lose a huge chunk of clients, work ridiculously long hours and even suffer a break in compensation.
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Summary: As the SEC brings to a close its review of the 2016 breach of its EDGAR filing system, the commission is proposing reforms to its cybersecurity practices and also says it is investigating whether anyone gained from illicit trading activity based on the hacked information.
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Summary: The U.S. Fifth Circuit Court of Appeals issued a mandate Thursday, making effective its March 15th decision to void the DOL fiduciary rule. The rule effectively died on June 13, when the DOL allowed the deadline to appeal the aforementioned decision to the Supreme Court to pass. This inaction came as no surprise to most, given the Trump administration’s general hostility towards regulation in general and the rule in particular.
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Summary: As wealth managers consider a move to independence, they come to Pershing with questions about the economics of different business models. And rightfully so, because of all the issues advisers have to address in a transition, nothing comes close to the importance of deciding on the business model.
