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 December 12, 2015:
- Snakes and ladders: What to expect in the unexpectedly triumphant final DOL fiduciary rule (Author- Duane Thompson, RIABiz)
After a five year debate over a fiduciary standard for retirement advice, it is about to enter into its final phase. The Department of Labor (DOL) will begin to review the the feedback on the proposed rule. Despite a long road ahead with additional effots to block the fiduciary rule likely to emerge, Mr. Thompson notes that it’s looking more likely that we should see a new fiduciary rule in early 2017. Stay tuned.
- RIAs are Coming up Short on Succession Planning: Fidelity (Author- Charles Paikert, Financial Planning)
Does your RIA firm have a proper succession plan in place? As reported by Charles Paikert, a recent study conducted by Fidelity revealed that almost two-thirds of advisors prefer an internal succession plan, but just over a quarter of them have “next generation” owners in place. The study also reveals that many firms fail to properly plan for an internal succession plan. Properly planning for an internal succession in advance allows for proper grooming and financing.
- New bill aims to stop DOL fiduciary rule (Author- Mark Schoeff Jr., InvestmentNews)
Just when it looked like the DOL’s fiduciary rule had cleared it’s last hurdle, two new bipartisan bills introduced in Congress earlier today is the latest effort to halt the DOL’s push. Mark Schoeff Jr. has the latest details on the Strengthening Access to Valuable Education and Retirement Support Act and the Affordable Retirement Advice Protection Act.
- Internal Conflicts When Considering Compliance Outsourcing (Author- Wendy Lanton, ThinkAdvisor)
One of the many topics up for debate at the moment is the outsourced Chief Compliance Office (CCO) model. With the increased compliance requirements, many small firms are struggling to find the resources to meet increased regulatory requirements. As Wendy Lanton notes, there are many other things to consider when deciding whether to have a CCO that wears multiple hats or hiring a fully dedicated CCO
Be sure to check back next Friday for next week’s top articles!