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SIFMA raises concerns that fiduciary proposal will harm investors

SIFMA SmartBrief | Feb 24, 2015

President Barack Obama has directed the Labor Department to move forward with a proposal requiring financial professionals who offer advice on retirement accounts, including brokers, be held to a fiduciary standard. While SIFMA supports a uniform fiduciary standard of conduct for broker-dealers and investment advisors, SIFMA continues to raise concerns about the DOL's approach. "This proposal needs a thorough review as it has the potential to cause a detrimental impact on all American savers and the retirement system as a whole," said SIFMA President and CEO Kenneth E. Bentsen, J‎r. Administration officials must also consider the fact that the brokerage industry is highly regulated by the Securities and Exchange Commission and the Financial Industry Regulatory Authority, including with respect to retirement accounts. Read SIFMA's statement on the DOL retirement regulation proposal. Reuters (02/23) Politico (02/23) USA Today (02/23) Bloomberg (02/23)


Obama to address Labor Department's fiduciary reproposal

SIFMA SmartBrief | Feb 23, 2015

Rules changes prompts JP Morgan to consider reducing some units

SIFMA SmartBrief | Feb 23, 2015

Rule changes cut banking profitability

SIFMA SmartBrief | Feb 20, 2015

Sen. Crapo joins critics of FINRA's CARDS

SIFMA SmartBrief | Feb 26, 2015

Yellen eyes labor market, inflation for interest rate's future

SIFMA SmartBrief | Feb 25, 2015

House approves expanded college savings plan

SIFMA SmartBrief | Feb 26, 2015

N.Y. regulator proposes rules against money laundering

SIFMA SmartBrief | Feb 26, 2015

FINRA official: Volcker rule could hurt bond-market liquidity

SIFMA SmartBrief | Feb 24, 2015

SEC's Gallagher calls White House memo on fiduciary rule propaganda

SIFMA SmartBrief | Feb 23, 2015


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