Decoding the SEC rulemaking package on standards of conduct for investment professionals
Purpose: To provide an overview of the US Securities and Exchange Commission’s (SEC’s) recently proposed rulemaking package relating to standards of conduct for investment professionals. The three proposals included: interpretation regarding the standard of conduct of investment advisers under the Investment Advisers Act of 1940; Form CRS which both registered investment advisers and registered broker-dealers would have to provide to retail investors; and proposed regulation best interest. Design/methodology/approach: Reviews and summarizes the three individual proposals. Findings: The SEC has proposed this rulemaking package in order to meet three goals: enhance retail investor protection and decision making, preserve investor choice and cost, and raise retail investor awareness of whether they are doing business with a registered financial professional. The SEC is looking for feedback, particularly from retail investors, on whether these proposals would achieve the SEC’s goals. Originality/value: Summarizes the three proposals in a manner that provides insight into how investment advisers and broker-dealers would be required to conduct business with retail investors if the proposals are adopted in the current form.
Year of publication: |
2018
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Authors: | Attar, Mark M. ; Bateman, Marguerite ; Drogin, Jack P. ; Pugliese, Domenick ; Schwartz, Rachael Leah ; Vargo, Kimberly Karcewski |
Published in: |
Journal of Investment Compliance. - Emerald, ISSN 1528-5812, ZDB-ID 2048718-6. - Vol. 19.2018, 4 (31.10.), p. 6-12
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Publisher: |
Emerald |
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