Compliance Newsflash – January 17, 2018

January 17, 2018

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Robert Jackson and Hester Peirce Sworn In as SEC Commissioners
On January 11, 2018 Robert J. Jackson Jr. and Hester M. Peirce were sworn into office as SEC Commissioners by SEC Chairman Jay Clayton. Mr. Jackson and Ms. Peirce were nominated to the SEC by President Donald Trump, and their nominations were confirmed by the U.S. Senate on Dec. 21. Both new commissioners participated in today’s inaugural meeting of the SEC’s Fixed Income Market Structure Advisory Committee.
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More Compliance Issues to Come
According to ThinkAdvisor, financial advice firms face a growing list of compliance chores in 2018, including spillover effects of the Department of Labor’s now-delayed fiduciary rule, cybersecurity issues, advisor exam changes and tighter scrutiny of bad brokers. Despite the 18-month delay the DOL put in place last year, the provisions of the rule purporting to require retirement account advisors to put clients’ interests first will still weigh on advisors’ time and resources, George Michael Gerstein, counsel with Stradley, Ronon Stevens & Young, tells the publication.
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