The SEC has issued its 2014 Agency Financial Report, in which it outlines the actions it undertook in 2014 and its goals for 2015. Investment News notes that the report is vague about whether the SEC will propose a new uniform fiduciary standard in FY 2015, which began Oct. 1, 2014.
“In FY 2015, the SEC will strive to advance the final rules required to build a more stable and transparent financial system by … evaluating recommendations from a staff report to consider a uniform fiduciary standard of conduct for investment advisers and broker-dealers when providing personalized investment advice to retail investors about securities,” the report states.
The report says the agency also will consider “ways to better harmonize the regulatory requirements of investment advisers and broker-dealers when they are providing the same or substantially similar services to retail investors.”
According to the report, the SEC examined 10% of registered investment advisors in 2014, exceeding its goal by 1%, and examined nearly 50% of the almost 4,125 brokerages registered with FINRA.
“In FY 2015, the SEC will strive to advance the final rules required to build a more stable and transparent financial system by … evaluating recommendations from a staff report to consider a uniform fiduciary standard of conduct for investment advisers and broker-dealers when providing personalized investment advice to retail investors about securities,” the report states.
The report says the agency also will consider “ways to better harmonize the regulatory requirements of investment advisers and broker-dealers when they are providing the same or substantially similar services to retail investors.”
According to the report, the SEC examined 10% of registered investment advisors in 2014, exceeding its goal by 1%, and examined nearly 50% of the almost 4,125 brokerages registered with FINRA.
- Log in to post comments