Compliance
November 30, 2007
SEC Seeks Input on Short-Form Prospectus
Comments due by February 2008
By Melanie Waddell
The Securities and Exchange Commission has published a prototype “summary prospectus” for mutual funds, and has asked for public comment from investors. ...
November 21, 2007
FPA Calls for Major Regulatory Reform
Comments on planned review by Treasury Department
By James J. Green
In a long, comprehensive comment letter filled with references to the history of financial regulation in the United States, the Financial Planning Association told the Treasury Department on Nov. ...
November 16, 2007
SEC Floats Short-Form Prospectus
Proposed form would be easier to decipher, available on the Internet
By Melanie Waddell
The SEC voted November 15 to adopt a short-form prospectus requiring that all mutual fund investors receive a clear, concise summary of key information needed to make an informed investment ...
September 9, 2007
FPA Kicks Off Annual Meeting
Fresh from Senate testimony, Nicolette stresses fiduciary duty
By James J. Green
Only days after he testified at the Senate Special Committee on Aging on the duties of financial advice givers, Financial Planning Association President Nicholas Nicolette drew spontaneous ...
June 21, 2007
Compliance Help From the SEC
New alerts give CCOs a heads up on exam issues
By Melanie Waddell
The Securities and Exchange Commission is now providing a ComplianceAlert letter to chief compliance officers of SEC-registered firms to help them learn more about the common deficiencies and ...
May 18, 2007
SEC Furthers Strides Toward Global Accounting Standard
Proposal due this summer on standards flexibility
By Melanie Waddell
Furthering its efforts to establish a global accounting standard, the SEC plans to issue a proposed rule this summer allowing foreign private issuers to choose between International Financial ...
May 16, 2007
Fiduciary Education
NAPFA teams with fi360 to give online guidance on PPA
By Melanie Waddell
NAPFA has joined forces with fi360 and the Center of Fiduciary Excellence to give fee-only advisors who wish to provide advice to participants in company-sponsored retirement plans a new ...
May 1, 2007
Risk Management—for Yourself
Think you’ve got a handle on risks to your practice? Think again.
By Joni Youngwirth
In this industry, when you mention risk, the first thing that probably comes to mind is compliance. ...
April 18, 2007
CFP Board Gets New CEO
Kevin Keller replaces interim CEO Don Tharpe
By Melanie Waddell
The CFP Board has a new CEO. Effective May 1, Kevin Keller will replace Don Tharpe, who has served as interim CEO since November 2006.
February 1, 2007
When Should You Register?
A guide for when “tweeners” should register with the SEC
By Thomas D. Giachetti
Should an investment advisor with $30 million of “assets under management” register with the SEC? It depends on whether the advisor has “qualifying” assets under management.
December 28, 2006
Fidelity to Pay $42 Million to Mutual Funds
Chairman apologizes for “improper behavior”
By James J. Green
In response to the scandal over favors given to some Fidelity mutual fund equity traders and supervisors by certain broker/dealers from 2002 to 2004, Fidelity chairman Ned Johnson apologized to ...
December 12, 2006
SEC Risk Director Leaving for Private Sector
Charles Fishkin to join AllianceBernstein
By James J. Green
The SEC announced that Charles Fishkin, who helped create the Commission’s Office of Risk Assessment under-then Chairman Bill Donaldson in 2004 and propagated an agency-wide risk management ...
November 8, 2006
FPA Says Public Deserves Better Protection
Association supports proposed Massachusetts rule on professional designations
By Robert F. Keane
A proposed rule by the Massachusetts Security Division, which would prohibit financial services professionals from using misleading professional designations has received the public endorsement ...
November 1, 2006
Defining Fiduciary
What is an advisor’s true fiduciary duty?
By Thomas D. Giachetti, Esq.
In 1963, the United States Supreme Court held in SEC v. Capital Gains Research Bureau, Inc. ...
October 30, 2006
GAO To Review SEC
OCIE and enforcement unit targeted
By Melanie Waddell
At the behest of Sen. Charles Grassley (R-Iowa), the Government Accountability Office (GAO) is gearing up to perform a broad review of two of the Securities and Exchange Commission’s ...
