Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser (RIA) compliance and regulatory issues. Check back each week for the latest list of top stories.
Here’s our top investment adviser compliance articles for the week of July 25, 2015:
- Why a federal judge tossed out the Camardas’ case (Author- Mark Schoeff Jr., InvestmentNews)
Earlier this year, a suit was filed against the Certified Financial Planner Board of Standards (CFP Board) in regards to an ongoing dispute over the use of the “fee only” label. Now the judge’s opinion has been made public and offers insight into why the controversial lawsui was dismissed by the federal court.
- Rep. Ann Wagner gets three other House members to call on DOL to withdraw fiduciary proposal (Author- Mark Schoeff Jr., InvestmentNews)
The controversial fiduciary rule is getting more and more heat as time goes on. Member of the House of Representatives, Ann Wagner, has been joined by 3 other members in writing a letter to the Labor Secretary, urging him to withdraw the proposal. Mark Schoeff gives us the details.
- SEC Pay-to-Play July 31 Effective Date a ‘Nonevent’: IAA Chief (Author- Melanie Waddell, ThinkAdvisor)
The Securities and Exchange Commission (SEC) will not be enforcing the ban on advisors’ use of third parties to solicit business from government entities until the Financial Industry Regulatory Authority (FINRA) and the Municipal Securities Rulemaking Board (MSRB) issue the final rules. Melanie Waddell updates us on the timeline of this process.
- Social Media Compliance: 5 Tips for Advisors (Author- Yasmin Zarabi, FinancialPlanning)
It’s no secret that the use of social media for a financial advisor can take your business to the next level. While many advisors are taking advantage of this platform, others are concerned about staying in compliance. Yasmin Zarabi gives us tips on how to use social media in a way that won’t get you in trouble.
- House GOP Tells DOL to Scrap Fiduciary Plan (Author- Melanie Waddell, ThinkAdvisor)
The House Committee on Education and the Workforce has joined in the great debate on the Department of Labor’s (DOL) fiduciary rule. The committee stated their concerns in a letter sent to Labor Secretary Thomas Perez, and the DOL remains that they are still flexible about the final rule.
Be sure to check back next Friday for next week’s top articles!