FINRA announces BrokerCheck upgrade | Proposed tax changes disincentivize small-business 401(k)s | Regulators: Advisor background checks are essential
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October 9, 2017
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FINRA announces BrokerCheck upgrade
The Financial Industry Regulatory Authority plans to improve its BrokerCheck disclosure system, making more advisor information available and releasing additional data sets, the agency said. FINRA also said low-risk firms can be eligible for remote inspections, and the agency's streamlined competency exams will become effective Oct. 1, 2018.
ThinkAdvisor (free registration) (10/6) 
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Why You Should Avoid Toxic Coworkers
A "spillover effect" from work neighbors can boost our productivity—or jeopardize our employment. Learn more through research from Kellogg School of Management Professor Dylan Minor.
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Policy Watch
Proposed tax changes disincentivize small-business 401(k)s
The Republican proposal for revising the tax plan, released Sept. 27, contains adjustments that remove incentives for small-business owners to offer 401(k) retirement plans, writes columnist Kristen Ricaurte Knebel. "We believe this to be a technical glitch, an unintended consequence of the tax reform plan," says Craig Hoffman, general counsel for the American Retirement Association.
Bloomberg BNA (free content) (10/3) 
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Regulators: Advisor background checks are essential
A joint bulletin from the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the US Commodity Futures Trading Commission and the North American Securities Administrators Association urges investors to carry out detailed background checks on their advisors before making an investment decision based on their advice. "Much of the investment fraud we see today is committed by people who claim to be investment professionals, but are not properly licensed and registered," the bulletin said.
Financial Advisor online (10/5) 
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House bill replacing fiduciary rule set for markup
House bill replacing fiduciary rule set for markup
Wagner (Chip Somodevilla/Getty Images)
The bill by Rep. Ann Wagner, R-Mo., replacing the Labor Department's fiduciary rule is scheduled for markup by the House Financial Services Committee on Wednesday. If signed into law, the measure would replace the fiduciary rule with a best-interest standard for broker-dealers.
ThinkAdvisor (free registration) (10/6) 
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Treasury rules out SEC-CFTC merger
Treasury rules out SEC-CFTC merger
Mnuchin (Brendan Smialowski/AFP/Getty Images)
The Treasury Department discussed the idea of merging the Commodity Futures Trading Commission and the Securities and Exchange Commission, but decided against the move. "While some synergies in mission functions could be found, merging the SEC and the CFTC is unlikely to materially enhance the efficiency in which their core activities are carried out," Treasury Secretary Steven Mnuchin and Craig Phillips, a top aide at the Treasury, wrote in a report.
The Hill (10/6) 
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Quarterly Small Business Leadership Report
Three industry heavy weights dish up the facts on what you need to know about the future of collaboration, increasing productivity and readying the office for the millennial workforce. Read the guide.
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Building Your Business
Planner describes his work teaching financial literacy
Financial planner Levar Haffoney offers a first-hand account of the experiences, successes and challenges he has encountered while teaching financial-literacy classes to preretirees at York College in New York City. His course covers retirement planning and budgeting, asset diversification, and the difference between financial advisors, financial planners and investment advisors, among other topics.
Financial Planning online (10/3) 
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The Path to Omnichannel Marketing
Consumers are becoming more sophisticated in their use of digital engagement with brands, leading marketers the need to adopt more refined tools and mature strategies. Download this ebook to learn about creating a seamless customer experience and avoiding potential hurdles along the way.
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Retirement Focus
Avoid this costly misstep with retirement savings
Withdrawing funds from a retirement account early for any purpose can be detrimental to your savings, writes Wendy Connick. She states the importance of saving separately for emergencies but notes that resorting to a credit card in times of need is preferable to dipping into retirement savings.
The Motley Fool (10/6) 
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FSI Member News & Events
New business intelligence tool -- FSI member discount
FSI has partnered with Truelytics to bring members a robust online valuation and business intelligence platform that can help you go from running a practice to owning a business. The Truelytics platform gives financial advisors the ability to understand the value of their entire practice, including earnings contributions and the key strengths and weaknesses that are driving their business. FSI members receive a 21% discount on the Truelytics business intelligence platform. Learn more and sign up for a demo today!
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FSI was formed in January 2004 as an advocacy and membership organization for independent broker-dealers and independent financial advisors. We provide insight, information, influence, and involvement--all in support of our mission to provide visibility, credibility, and an improved regulatory environment for the independent channel. Learn more at financialservices.org
 
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