The rule, if approved by OMB, would delay the Jan. 1 applicability date of the fiduciary rule until July 1, 2019.
Firms should focus on two key areas to create a unified approach to compliance and risk—surveillance monitoring and the design and control of investments.
The SIFMA organization formally voiced concerns to the state’s securities division.
“You can’t put one hat on when you’re talking about 50 percent of your assets and another hat on when you’re talking about another 50 percent. It makes no sense,” said SEC Chairman Jay Clayton.
Take this opportunity to make business model changes that will better position your practice.
“I wish more of my colleagues and more elected officials, quite frankly, have signed not just the back of a paycheck, but maybe the front of one,” Rep. Ann Wagner said.