SIFMA C&L Society的动态

Bragg advocates overhaul: Calls for comprehensive financial system inquiry: Senator Andrew Bragg is demanding a comprehensive review of the regulatory framework through a new Financial System Inquiry (FSI). https://bit.ly/3uXOHAO

It has always irked me that the profession I belong to has never quite achieved parity of esteem. This article by Amy Austin?sets out the views of Keith Richards?of the Consumer Duty Alliance?and Nick Hulme?of the Financial Conduct Authority; and it strikes me that the profession of financial planning may just be at a pivotal moment in its evolution. The point is well made that many (if not most) financial planners and advisers have, for decades, been focussed on achieving good outcomes for their clients. In other words, we have been ‘doing’ Consumer Duty before the term was invented! That message came across very strongly at the Consumer Duty Alliance conference last week. In my view, we should not underestimate the value and the significance of the FCA moving from a prescriptive and rules based regulation to outcomes based. In fact, there is evidence that a prescriptive approach has in some circumstances, led to avoidable poor outcomes for consumers. Do we, finally, have an opportunity of achieving parity of esteem? #FinancialPlanning?#FinancialAdvice?#ConsumerDuty The Chartered Institute for Securities & Investment (The CISI) LIBF Personal Finance Society Society of Later Life Advisers

Check out my colleagues' CFPB webinar if you can!

FSCA and B-BBEE Commission forge partnership for financial sector transformation. The FSCA and the Broad-Based Black Economic Empowerment Commission this week entered a Memorandum of Understanding to strengthen co-operation and collaboration between the two entities to promote transformation of the financial sector. Get more insight on the above in the full article: https://buff.ly/3TpINlC Share, like, comment, and subscribe! #BBBEE #BroadBasedBlackEconomicEmpowermentAct #BroadBasedBlackEconomicEmpowermentCommission #FinancialSectorCode #FSCA #MemorandumofUnderstanding

https://lnkd.in/ewjMxEwS Alpine v. FINRA (DCCir): In part the Court held: "We now reverse only to the extent the district court allowed FINRA to expel Alpine with no opportunity for SEC review. Alpine is entitled to that limited preliminary injunction because it has demonstrated that it faces irreparable harm if expelled from FINRA and the entire securities industry before the SEC reviews the merits of FINRA’s decision. Alpine has also demonstrated a likelihood of success on its argument that the lack of governmental review prior to expulsion violates the private nondelegation doctrine. We accordingly hold that FINRA may not expel Alpine either before Alpine has obtained full review by the SEC of the merits of any expulsion decision or before the period for Alpine to seek such review has elapsed." Read the brilliant, scathing Dissent by Judge Walker (in part): "By flouting that principle through an “illegitimate proceeding, led by an illegitimate decisionmaker," FINRA imposes an irreparable injury that this court should prevent by granting the requested preliminary injunction in its entirety. "

Earlier this week, our General Counsel, Alex Olive, was on a panel for the Regulating the Financial Services Sector session at?the CompLaw: Financial Services. She was joined by other great panellists - Sharon Horwitz, Mark Bethell and Kier Liddell. ?? Alex spoke of the importance of working with regulators, as well as the balance/calibration built into the different objectives that regulators apply. She explained how a positive regulatory environment fosters competition and innovation, helping the UK thrive as a global centre for financial services. #INFORMACOMPETITIONLAW Informa Connect

The Trust’s 2??0??2??3?? Annual Report is out! Learn more about the last 25 years of the Trust’s work and partnerships. #pulliamtrust https://lnkd.in/epdx37gk

FSCA and B-BBEE Commission forge partnership for financial sector transformation. The FSCA and the Broad-Based Black Economic Empowerment Commission this week entered a Memorandum of Understanding to strengthen co-operation and collaboration between the two entities to promote transformation of the financial sector. Get more insight on the above in the full article: https://buff.ly/3Pbph9Q Share, like, comment, and subscribe! #BBBEE #BroadBasedBlackEconomicEmpowermentAct #BroadBasedBlackEconomicEmpowermentCommission #FinancialSectorCode #FSCA #MemorandumofUnderstanding

While legislative and regulatory issues that come from Washington, DC get most of the publicity, state legislative and regulatory challenges have become more acute than ever for our industry. Opponents of the industry have seized on opportunities in the states to change enabling laws to eliminate or limit our businesses. In most cases, the best defense to these challenges comes from state licensed companies that can demonstrate their investment in communities and make the case for preservation of credit and other regulated financial products and services. To meet these challenges, INFiN’s support of members has been greater than ever, and we are adding even more tools to assist you in battleground states. Join us for General Session III, on Wednesday, October 30, beginning at 9:00 AM, where experienced professionals who have faced these challenges will discuss the various issues facing the industry, the states in which the most urgent challenges exist, the strategies that have been successful, and the offerings available to INFiN members. This two-part presentation will include a roundtable discussion and a demonstration of how we can put the industry’s best face forward. This session will also highlight the value of state based organizations to leverage valuable resources, and how INFiN can assist operators to establish an effective association to represent your business and aid in the fight. Questions??Please contact LeeAnn Thompson, Director of Member Services at?[email protected]?or 202-327-9714.

My good friend Kate Albert MSc of Kova Professions has written this really insightful article for the FT Adviser on the challenges of obtaining professional indemnity insurance for financial advisors. Thankfully, there are more options available in the market now after a long period of limited insurer appetite and broker schemes monopolising the market. Brunel PI Brokers have the expertise and access to insurers, making this year a really good year to review your firms professional indemnity arrangements. We provide our clients with a personal touch service, that takes into account their needs, bringing some much needed competition back to the market. We believe it’s time for change, come join us. #professionalindemnity #financialadvisors #wealthmanagers #insurance #uk #change