SIFMA White Paper: CFP Board’s Regulatory Regime for CFP Certificants Imposes Risks on Financial Services Firms
Paper makes key recommendations to CFP Board, the SEC and FINRA to mitigate these risks Washington, D.C., October 28, 2024 – SIFMA…
Recognizing World Elder Abuse Awareness Day
As we observe this year’s World Elder Abuse Awareness Day, we encourage others to join us in recognizing the importance…
DOL Hasty Push of Latest Fiduciary Rule Will Harm American Retirement Savers
In this Pennsylvania + Wall blog post, SIFMA's Lisa Bleier explains why this hurried approach will result in a policy…
Key Takeaways from SIFMA’s 2024 Social Media & Digital Marketing Seminar
At SIFMA’s 2024 Social Media & Digital Marketing Seminar, we uncovered some key findings on how financial professionals can set…
IRS Notice 2024-2: Miscellaneous Changes Under the SECURE 2.0 Act of 2022
SIFMA provided comments to the Internal Revenue Service (IRS) on the guidance on Sections 117, 326, and 601 of the SECURE…
Form U5 Defamation Claims for Money Damages: Recommendations to Improve the Fairness of Adjudications
SIFMA provided comments to the Financial Industry Regulatory Authority (FINRA) expressing its concerns with the current state of Form U5…
IRS Proposed Rule: Taxes on Taxable Distributions from Donor Advised Funds
SIFMA provided comments to the Internal Revenue Service (IRS) on their proposed rule regarding Taxes on Taxable Distributions from Donor…
Proposed Regulations 940 C.M.R. 38.00
SIFMA provided comments to the Massachusetts Office of the Attorney General on their proposed rules that would require the disclosure…
SIFMA Testimony on the Department of Labor Rule on Retirement Savings Advice
Washington, D.C., December 12, 2023 – Today, SIFMA’s Lisa Bleier, Head of Wealth Management, Retirement and State Government Relations delivered…
Testimony on Retirement Security Rule: Definition of an Investment Advice Fiduciary
SIFMA Head of Wealth Management, Retirement and State Government Relations, Lisa Bleier delivered testimony at a virtual hearing before the…
DOL Fiduciary Rule Redux
Last month, the Department of Labor introduced a new rule ostensibly aimed at protecting the interests of American retirement savers…
Proposed Revisions to CFP Board Sanctions Guidelines
SIFMA provided comments to the Certified Financial Planner Board of Standards, Inc. (CFP Board) on the CFP Board's proposed revisions…
SIFMA Comment on Proposed Revisions to NASAA’s Broker-Dealers Model Rule
Washington, D.C., December 1, 2023 – SIFMA submitted a comment letter today to the North American Securities Administrators Association, Inc.…
Proposed Revisions to NASAA Broker-Dealer Model Rule
SIFMA provided comments to the North American Securities Administrators Association, Inc. (NASAA) on the proposed revisions to its “Dishonest or…
Investors Increasingly Choose Advice
Demand for financial advice is growing and investors are increasingly satisfied with advice offerings, finds new research by Cerulli Associates.
The Future of Wealth Management: A Video Series
At SIFMA’s 2023 Private Client Conference, senior business executives from across the industry gathered to discuss what’s next for wealth…
Financial Services Industry Comment on OMB-2022-0014 and OMB-2022-0011
SIFMA, American Bankers Association (ABA), American Council of Life Insurers (ACLI), Financial Services Institute (FSI), Futures Industry Association (FIA), Insured…
Private Client Conference Debrief, 2023
Perspectives and Key Themes from Wealth Management Executives Recently, SIFMA hosted our 2023 Private Client Conference. With two days of…
SIFMA, SIFMA AMG Submit Comments on the SEC’s Proposed Rule for Safeguarding Advisory Client Assets
Washington, DC, May 8, 2023 – SIFMA and SIFMA Asset Management Group (SIFMA AMG) today filed comment letters raising significant…
2023 Private Client Conference
Pre-Conference Survey Results Ahead of SIFMA’s 2023 Private Client Conference, we executed a pre-conference survey of attendees and select SIFMA…
SIFMA Welcomes the Introduction of E-delivery Legislation
Washington, D.C., March 27, 2023 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr.…
Key Takeaways from SIFMA’s 2023 Social Media & Digital Marketing Seminar
At SIFMA’s 2023 Social Media & Digital Marketing Seminar, marketing experts, compliance professionals, financial advisors, and leading names in technology,…
The SIFMA Podcast: Digitization, Hyper-Personalization and Self-Directed Investing
In this episode of the SIFMA Podcast, SIFMA President & CEO Kenneth E. Bentsen, Jr. sits down with Sabrina Bailey,…
CFP Board’s Proposed Revisions to Procedural Rules
SIFMA provided comments to the Certified Financial Planner Board of Standards, Inc. (CFP Board) on their Proposed Revisions to its…
SIFMA Statement on Senate Passage of Retirement Legislation
Washington, D.C., December 22, 2022– SIFMA issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on retirement…
SEC Order Instituting Proceedings Under Section 19(b)(2)(B) of the Exchange Act
SIFMA provided comments to the U.S. Securities and Exchange Commission (SEC) on the Order to determine whether to disapprove FINRA’s…
Proposed Changes to FINRA Expungement Rules
SIFMA provided comments to the U.S. Securities and Exchange Commission (SEC) on FINRA’s proposed rule changes to the Code of…
It’s Time to Embrace e-Delivery to Meet Investors’ Needs for the 21st Century
Americans are online more than ever these days. New survey results show that most Americans with investment and savings accounts…
e-Delivery in a T+1 Environment
SIFMA provided comments to the U.S. Securities and Exchange Commission (SEC) on the need to modernize its rules to make…
Revised Proposed Regulations to Nevada Administrative Code Chapter 90
SIFMA provided comments to the Nevada Securities Administrator and Deputy Secretary of State on Revised Proposed Regulations to Nevada Administrative…
DOL Must Preserve the Independent Contactor Model for Financial Advice
Recently, the Department of Labor’s Wage and Hour Division has announced an intention to look at worker classification and independent…
SIFMA Statement on Senate Finance Committee Passage of the Enhancing American Retirement Now Act
Washington, D.C., June 22, 2022– SIFMA issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on the…
Pre-Conference Survey Comparison, Spring 2022
Ahead of several of SIFMA’s marquee conferences, we executed a pre-conference survey of attendees and select SIFMA members. While each…
Proposed Prohibited Transaction Exemption (PTE) Changes
SIFMA provided comments to the Department of Labor (DOL) regarding proposed regulations to change the procedures governing prohibited transaction exemptions…
DOL ERISA Proposal Could Upend America’s Successful Retirement System
The American retirement system has helped millions prepare for a secure future through an engaged private sector that provides and…
SECURE RMD Proposal
SIFMA provides comments to the Internal Revenue Service (IRS) regarding proposed regulations implementing the required minimum distribution requirements for plans…
Accelerated Processing of Arbitration Proceedings
SIFMA provided comments to FINRA on Notice 22-09 (Accelerated Processing of Arbitration Proceedings). The Notice proposes new rules to allow…
SIFMA on FINRA Complex Products and Options
SIFMA provided comments to FINRA on Notice 22-08, Complex Products and Options. The Notice raises regulatory concerns about retail investors…
DOL Request for Information on Climate-Related Financial Risk
SIFMA provided comments to Employee Benefits Security Administration (EBSA) regarding the Department of Labor’s Request for Information on Possible Agency…
FINRA Expungement Rules and Request for Immediate Remedial Relief
SIFMA provides supplemental comments to the Securities and Exchange Commission (SEC) on FINRA’s proposed rule change to amend the Code…
Private Client Conference Debrief, 2022
Recently, SIFMA hosted our annual Private Client Conference. With two days of presentations and events and around 200 participants, we…
Priorities for Private Wealth Management
A Conversation from SIFMA’s 2022 Private Client Conference In this far-ranging discussion, leaders from SIFMA’s Board of Directors explore the…
Rule 10b5-1 and Insider Trading
SIFMA provided comments to the Securities and Exchange Commission (SEC) on Rule 10b5-1 and related disclosure requirements. SIFMA discusses the…
SIFMA Statement on House Passage of the Securing a Strong Retirement Act
Washington, D.C., March 29, 2022– SIFMA today issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on…
Support for SECURE Act of 2022
SIFMA provided comments to the Speaker of the House and Minority Leader of the House expressing strong support for the…
SIFMA Request for Immediate Guidance Needed to Extend RMD and SECURE Act Effective Dates
SIFMA provided comments to the IRS regarding proposed regulations to address the required minimum distribution requirements for plans qualified under…
Joint Trades Request for Immediate Guidance Needed to Extend RMD and SECURE Act Effective Dates
SIFMA in a joint letter with other associations provided comments to the Treasury Department and IRS to promptly issue guidance…
Joint Trades on DOL Prohibited Transaction Exemption Applications Changes
SIFMA in a joint letter with other associations provided comments to the Acting Assistant Secretary requesting an extension of time…
Key Takeaways from SIFMA’s 2022 Social Media & Digital Marketing Seminar
At SIFMA’s 2022 Social Media & Digital Marketing Seminar, leading names in private wealth management gathered for in-depth discussions with…
Congress Spoke and the SEC Acted: Now Is Not the Time to Rewrite Rules and Upend the Retail Investor Market
Millions of Americans have a relationship with a financial professional and overwhelmingly they are satisfied and trust their advisor. The…
Insider Trading Plans Proposed Rules
SIFMA provided comments to the Securities and Exchange Commission (SEC) on extending the comment period for the referenced proposal from…
DOL ESG Proposal
SIFMA provides comments to the Department of Labor (DOL) on their proposed amendments to the “Investment Duties” regulation under Title…
Petition for Rulemaking to Amend FINRA Rule 9554
SIFMA provided comments to the Securities and Exchange Commission (SEC), pursuant to Rule 192 of the SEC’s Rules of Practice,…
SIFMA Statement on NASAA’s 2021 Reg BI Phase Two Report
Washington, D.C., November 4, 2021 – SIFMA released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO,…
NASAA’s Proposed Model Rule for Unpaid Arbitration Awards
SIFMA provided comments to the North American Securities Adminstrators Association, Inc. (NASAA) to address unpaid FINRA arbitration awards by broker-dealers…
Planning for the New Retirement
In this episode of our Wealth Management Leadership podcast series, SIFMA president and CEO Kenneth E. Bentsen, Jr. sits down…
SIFMA Statement on DOL Announcement of Delay of PTE Enforcement
Washington, DC, October 25, 2021 – SIFMA released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO,…
The Evolution of the Advisor-Client Relationship
In this episode of our Wealth Management Leadership podcast series, SIFMA President & CEO Kenneth E. Bentsen, Jr. sits down…
Reaching Middle-Income Investors
In this episode of our Wealth Management Leadership podcast series, SIFMA President & CEO Kenneth E. Bentsen, Jr. sits down…
The Rise of Generation Investor (Gen I)
In this episode of our Wealth Management Leadership podcast series, SIFMA President & CEO Kenneth E. Bentsen, Jr. is joined…
Securities Arbitration System Works Effectively and Benefits Investors
Legislation under discussion in the U.S. House of Representatives would change the decades-old securities arbitration system for dispute resolution to…
SIFMA Response to SEC Request for Comment on Digital Engagement Practices
Washington, D.C., October 1, 2021 – SIFMA today submitted a letter to the U.S. Securities and Exchange Commission (SEC) in…
SEC Request for Information and Comment on Digital Engagement Practices
SIFMA provided comments to the Securities and Exchange Commission (SEC) in response to their 'Request for Information and Comments on…
Joint Trades on Permanent Relief for Remote Witnessing Procedures
SIFMA and joint trades provided comments to the Internal Revenue Service (“Service”) to make permanent its temporary relief from the…
A Tailored Approach to Women Investors
In this episode of our Wealth Management Leadership podcast series, SIFMA President & CEO Kenneth E. Bentsen, Jr. sits down…
A Team Approach to Enhancing the Client Services Experience
In this first episode of our Wealth Management Leadership podcast series, SIFMA President & CEO Kenneth E. Bentsen, Jr. sits…
CFP Board Proposed Revisions to Sanctions Guidelines
SIFMA provided comments to the CFP Board’s Proposed Revisions to Sanctions Guidelines and Procedural Rules (the “Proposal”). The Proposal would…
SIFMA Statement on the PRO Act
Washington, D.C., July 22, 2021 – SIFMA submitted written testimony to the Senate Committee on Health, Education, Labor and Pensions…
The Right to Organize: Empowering American Workers in a 21st Century Economy
Submission for the Record by the Securities Industry and Financial Markets Association before the Senate Health, Education, Labor and Pensions…
Joint Trades Letter on the PRO Act
SIFMA and joint trade associations provided comments to the U.S. Senate HELP Committee to express members’ strong concerns with S.…
Post-Pandemic Lessons for Wealth Management
At SIFMA’s virtual Private Client Conference, executives from across the wealth management industry explored the industry’s new paradigm.
The Individual Investor Explained
The face of the individual investor is changing. In this two-part podcast, SIFMA president and CEO Ken Bentsen sits down with…
SIFMA Statement in Support of the Securing a Strong Retirement Act
Washington, D.C., May 5, 2021 – SIFMA today issued the following statement from President and CEO Kenneth E. Bentsen, Jr.…
Securing a Strong Retirement Act of 2021
SIFMA provided comments on the Securing a Strong Retirement Act of 2021. SIFMA believes a number of provisions included in…
A Personal Perspective – The Importance of the Independent Contractor Model for Financial Advisors
In the latest in SIFMA’s podcast series, SIFMA president and CEO Kenneth E. Bentsen, Jr. is joined by independent financial…
SIFMA: Senior Security Act Would Enhance Efforts to Protect Senior Investors
Washington, D.C., April 20, 2021 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and…
SIFMA Statement on Preserving Securities Arbitration
Washington, D.C., April 16, 2021 – SIFMA released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO on…
The Importance of the Independent Contractor Model for Financial Advisors
In this podcast, SIFMA president and CEO Kenneth E. Bentsen, Jr. is joined by Jason Plank, a financial planning professional…
SIFMA Statement on PRO Act
Washington, D.C., March 9, 2021 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and…
SIFMA: Senior Security Act Would Enhance Efforts to Protect Senior Investors
Washington, D.C., March 8, 2021 – SIFMA today submitted a letter to Congressional leadership expressing support for H.R. 1565, the…
SIFMA Joins Coalition Letter Highlighting Problems with the PRO Act
Washington, D.C., March 4, 2021 – SIFMA today joined a coalition of trade associations, whose combined members provide financial services…
Rising Tides: U.S. Capital Markets Enable Families to Invest in America and Save Toward a Financially Secure Future
The U.S. capital markets are where people – individually and collectively through pension funds and mutual funds – invest their…
Independent Contractor Status Under the Fair Labor Standards Act
SIFMA provided comments to the Department of Labor’s (the “Department”) regarding the notice to delay the effective date of the…
SEC Order Instituting Proceedings Under Section 19(b)(2)(B) of the Exchange Act
SIFMA provided comments to the SEC Order Instituting Proceedings Under Section 19(b)(2)(B) of the Exchange Act. The Order requests comment…
FINRA Proposal to Adopt New Rule 4111 (Restricted Firm Obligations)
SIFMA provided comments to the SEC on the Proposal that would impose tailored obligations, including financial set-asides, on firms that…
SIFMA Statement on Final DOL Investment Advice Rule
Washington, D.C., December 15, 2020 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO,…
SIFMA Statement on the Securing a Strong Retirement Act of 2020
Washington, D.C., October 27, 2020 – SIFMA today issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on…
SIFMA Comments on the Department of Labor Proposed Rulemaking on Independent Contractor Status
Washington, D.C., October 26, 2020 – SIFMA submitted a comment letter today on the Department of Labor’s notice of proposed…
Independent Contractor Status Under the Fair Labor Standards Act
SIFMA provided comments to the Department of Labor’s (the “Department”) notice of proposed rulemaking to revise its interpretation of independent…
FINRA Proposed Rule Change to Amend the Code of Arbitration Procedure
SIFMA provided comments to the SEC on the opportunity to comment on the FINRA proposed rule change to amend the…
Fiduciary Duties Regarding Proxy Voting and Shareholder Rights
SIFMA provided comments to the Department of Labor on the proposed amendments to the “Investment Duties” regulation under Title I…
Registration Requirements for Pooled Plan Providers
SIFMA provided comments responding to the Department of Labor’s (the “Department”) proposal with regard to registration of pooled employer plans…
AARP BankSafe Training
SIFMA has teamed up with AARP to share the award-winning, interactive BankSafe training platform that empowers financial advisors to protect investors…
The View from Washington: Special Edition
In this video series, we gather the most influential voices shaping today’s capital markets to examine the client first focus,…
A Long Time in the Making, SEC’s Regulation Best Interest Raises the Bar for Investor Protection
The concept of a heightened standard of conduct for broker-dealers when providing personalized investment advice to retail investors has been…
SIFMA – Cerulli Associates: Individual Investors’ Use of Financial Advisors
The SIFMA commissioned research Individual Investors’ Use of Financial Advisors conducted by Cerulli Associates, explores the relationship between individual investors…
Podcast: Defining the Individual Investor
An examination of the SIFMA-Cerulli Individual Investor Research Project.
Private Client Survey: Financial Firms Outreach to Clients During COVID-19
Financial advisors perform a critical service helping investors successfully navigate complex financial challenges and studies prove that people who use…
Podcast: Financial Firms’ Outreach to Clients Amid COVID-19
SIFMA’s Private Client Services Committee recently conducted a survey and released a report assessing how SIFMA member firms are communicating…
With Americans More Online Than Ever, It’s Time to Finalize Electronic Delivery of Retirement Plan Statements
At a time when much of the country has moved their personal, professional and educational lives online, the Department of…
Podcast: Implementation of Reg BI
In this podcast, Ken Bentsen, SIFMA President and CEO, and Kevin Carroll, Managing Director and Associate General Counsel and SIFMA…
SIFMA Survey Highlights Industry’s Regulation Best Interest Implementation Efforts
Regulation Best Interest – finalized by the Securities and Exchange Commission last year and fully enforceable in June– significantly and…
Podcast: Securities Arbitration System Works Effectively and to the Benefit of Investors
In this podcast, we discuss the long-standing system of arbitration for dispute resolution, and the rather confounding animus toward it…
SIFMA Statement on Massachusetts Fiduciary Rule
Washington, D.C., February 21, 2020 – SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and…
FINRA Notice 19-36
SIFMA provided comments to FINRA regarding the Proposed New Rule 3241. The proposed rule would limit a registered person from…
State Fiduciary Rules Will Raise Costs, Limit Access
Every day, thousands of financial services professionals across the country go to work to help people save for big life…
Podcast: What the SECURE Act Means for Retirement Savers
The passage of bipartisan legislation, the Setting Every Community Up for Retirement Enhancement – better known as the SECURE Act…
SIFMA Statement on House Passage of SECURE Act
Washington, D.C., December 17, 2019 – SIFMA issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on H.R.…
FINRA Proposed Rule Change to Amend FINRA Rule 12000 Series
SIFMA provided comments to the SEC on the proposed rule change to amend FINRA Rule 12000 Series. SIFMA initially commented on…
Response to DOL’s RFI on Expanding MEPs to Financial Institutions
SIFMA provided comments to the Department of Labor on the expansion of retirement plan options. DOL is seeking comments on…
SIFMA Participated in SEC Roundtable on Combating Elder Investor Fraud
Last week, the U.S. Securities and Exchange Commission (SEC) hosted a roundtable on combating elder investor fraud. SIFMA's Lisa Bleier…
Kokesh Legislation
SIFMA and its member firms are strongly opposed to H.R. ____“To amend the Securities Exchange Act of 1934 to allow…
SIFMA Comments on Massachusetts Fiduciary Rule Proposal
Washington, D.C., July 26, 2019 - In a comment letter submitted today regarding a Massachusetts proposal to create a state-level…
Regulation Best Interest: Understanding the SEC’s Final Rules Governing Advice
On July 10, 2019, in Washington DC, SIFMA hosted an in-depth, half-day seminar that featured keynote speakers SEC Commissioner Hester…
The View from Washington: A Conversation with SEC Commissioner Hester Peirce
In this episode of “The View from Washington,” Commissioner Hester Peirce of the U.S. Securities and Exchange Commission sits down…
SIFMA Testimony on New Jersey Fiduciary Rule Proposal
Washington, D.C., July 17, 2019 – In testimony delivered today regarding New Jersey’s proposed rule to create a state fiduciary…
New Jersey’s Proposed Fiduciary Duty for Broker-Dealers
Statement of Kevin Carroll, SIFMA Managing Director and Associate General Counsel, on behalf of SIFMA to the New Jersey Bureau…
Remarks as Prepared for SIFMA’s Regulation Best Interest Seminar – Ken Bentsen, SIFMA
The debate has never been about whether to raise investor protection – our industry has supported the creation of a…
Regulatory Notice 19-17 (Protecting Investors from Misconduct)
SIFMA sent comments to FINRA on Notice 19-17. The Proposal would impose tailored obligations, including financial set-asides, on designated member…
Waters Amendment to Defund Reg BI Would Undermine Investor Protection
Washington, D.C., June 25, 2019 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and…
Waters Amendment #78 on Reg BI
SIFMA urges you to oppose the Waters amendment (#78) to H.R. 3351, the Financial Services and General Government Appropriations Act…
SIFMA Comments on New Jersey Fiduciary Rule Proposal
Washington, D.C., June 14, 2019 – In a comment letter submitted today in response to New Jersey’s proposed rule to…
Joint Trades on the Fiduciary Duty of Broker-Dealers and Investment Advisers Proposed New Rule N.J.A.C.
SIFMA, Institute for Portfolio Alternatives (IPA), National Association for Fixed Annuities (NAFA), Small Business Investor Alliance (SBIA), U.S. Chamber of…
Fiduciary Duty of Broker-Dealers and Investment Advisers Proposed New Rule N.J.A.C.
SIFMA sent comments to the New Jersey Bureau of Securities regarding the Fiduciary Duty of Broker-Dealers and Investment Advisers Proposed…
Morning Consult: Newly Finalized Reg BI Will Directly Enhance Investor Protection
The following Op-Ed was originally published in Morning Consult on June 13, 2019. The concept of a heightened standard of…
Regulation Best Interest: Preliminary Summary of Final Rules and Guidance
A preliminary summary of the final rules and guidance under Regulation Best Interest, including: 1) Regulation Best Interest – Standard…
The Final Reg BI: Raising the Bar on Investor Protection While Protecting Choice
On June 5, 2019, the SEC voted to finalize the much -anticipated Regulation Best Interest (Reg BI). Reg BI protects…
SIFMA Statement on the SEC’s Final Regulation Best Interest Rule
Washington, D.C., June 5, 2019 – SIFMA released the following statement today regarding the final version of Regulation Best Interest,…
BloombergTV: SIFMA CEO Bentsen on the Finalization of Regulation Best Interest
SIFMA president and CEO Kenneth E. Bentsen, Jr. discusses the finalization of the SEC's long-awaited Regulation Best Interest. He speaks…
On the Front Line: Working Together to Protect Senior Investors
The financial services industry is on the front line in protecting senior investors. Here's a look at how financial professionals…
Diversity & Inclusion in Private Wealth: A Continuing Focus
Diversity & Inclusion truly was top-of-mind at SIFMA’s 2019 Private Client Conference. Panelists not only discussed the necessity of incorporating…
Private Client Conference Debrief, 2019
Recently, SIFMA hosted our 2019 Private Client Conference. With two days of presentations and events and 250 attendees, we gained…
The Hill: SEC proposal packs an investor-protecting punch
At the end of the day, the benefits to retail customers of a heightened standard of conduct are clear, and…
SIFMA Supports the SECURE Act of 2019
Washington, D.C., April 2, 2019 – SIFMA today issued the following statement from President and CEO Kenneth E. Bentsen, Jr.…
Text Messaging Under SEC Scrutiny: Watch for These 3 Things
In December of 2018, the Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert to “remind advisers of…
Reg BI: Raising the Bar on Investor Protection While Preserving Choice
Ensuring investors are protected in their dealings with financial professionals is a universal goal. Regulation Best Interest, the Securities and Exchange…
Putting Investors First? Examining the SEC’s Best Interest Rule
Statement of Kevin Carroll, SIFMA Managing Director and Associate General Counsel, before the U.S. House of Representatives Committee on Financial…
Revenue Ruling 2018-17 Withholding and Reporting
SIFMA and ICI provided comments regarding the new Revenue Ruling 2018-17, which will impose withholding and reporting requirements on members with…
BloombergTV: SIFMA CEO on Regulation Best Interest
SIFMA President and CEO Kenneth E. Bentsen, Jr. discusses the U.S. Securities and Exchange Commission's proposed Regulation Best Interest (Reg BI)…
Investment News: Regulation Best Interest raises bar on investor protection
The United States' extensive history of individual investing has resulted in more options, greater competition and lower costs compared to…
SIFMA Submits Comments to the SEC on Regulation Best Interest
Washington, DC, August 7, 2018 - SIFMA today responded to the Securities and Exchange Commission (SEC) request for comment on…
WilmerHale Summary of Regulation Best Interest
On April 18th, the SEC voted to propose a package of three rulemakings and interpretations designed to enhance the quality…
Data Aggregation Principles
Data aggregation applications compile customer financial information from multiple accounts and institutions. SIFMA has adopted Data Aggregation Principles as guidance…
Q&A: Broadridge’s Steve Scruton on the Transformation of Financial Advice: Data, Intelligence and Technology
For Broadridge’s Steven Scruton, a fate worse than a few lost clients confronts wealth managers who fall behind the digital…
Embracing the New Frontier in Private Wealth Management
Rapid advancements in technology, coupled with demographic changes, are reframing the business and service dynamic for private wealth management. Business…
The Hill Oped: Retirement savers at risk under Labor’s financial advisor rule
The following oped was originally published in The Hill on September 7, 2017. The Department of Labor’s fiduciary rule has not yet…
Senior Investor Protection: Member Firm Case Studies
The below are true stories of member firm’s efforts to protect their client(s) from exploitation. All names, dates and locations…
Cybersecurity Guidance for Small Firms
As small businesses become increasingly dependent on services and applications that connect to the internet, they also become a larger…
Senior Investor Protection Toolkit
Senior financial exploitation has been estimated to cost savers almost $3 billion per year in cases that have been reported…
SIFMA Testimony at House Subcommittee DOL Fiduciary Rule Hearing
Washington, DC, July 13, 2017 - Today, Jerry Lombard, President of Janney Montgomery Scott LLC's Private Client Group gave the following…
Bloomberg Markets: Here’s Why SIFMA is Critical of the Fiduciary Rule
SIFMA President and CEO Kenneth E. Bentsen, Jr. discusses the future of the fiduciary rule on “Bloomberg Markets.” (Source: Bloomberg)
SIFMA Executive Vice President Randy Snook Remarks as Prepared for the 2017 Private Client Conference
Good afternoon. I’m Randy Snook, executive vice president of business policies and practices at SIFMA. It’s terrific to have all…
SIFMA Statement on Trump Memorandum to Delay DOL Fiduciary Rule
SIFMA Statement on Trump Memorandum to Delay DOL Fiduciary Rule Washington, DC, February 3, 2017 – SIFMA today released the…
Bloomberg: SIFMA President and CEO Ken Bentsen Discusses President Trump’s Action to Review Financial Regulatory Framework and DOL Fiduciary Rule
SIFMA President and CEO Ken Bentsen discusses President Trump’s executive action on financial regulations. He speaks on “What’d You Miss?”
SIFMA Spotlight: Protecting Our Senior Investors
The threat of cognitive decline grows as investors age, just as attacks by fraudsters and others seeking to exploit them…
Who Can Be Trusted With Your Retirement?
The following Q&A with Casey Dowd was originally published on FOXBusiness.com on November 6, 2016. For senior investors, a financial…
SIFMA EVP and General Counsel Ira D. Hammerman Remarks as Prepared for the SIFMA-FINRA Senior Investor Protection Conference
Good morning. I’m Ira Hammerman, SIFMA EVP and General Counsel. I’d like to thank all of you for being here…
SIFMA Statement on House Passage of the Senior $afe Act
Release Date: July 6, 2016 Contact: Katrina Cavalli, 212.313.1181, kcavalli@sifma.org SIFMA Statement on House Passage of the Senior $afe…
SIFMA Statement on Committee Passage of the Senior $afe Act, World Elder Abuse Awareness Day
Release Date: June 16, 2016 Contact: Carol Danko, 202-962-7390, cdanko@sifma.org SIFMA Statement on Committee Passage of the Senior $afe…
SIFMA President and CEO Kenneth E. Bentsen, Jr. Remarks as Prepared for SIFMA 2016 DOL Fiduciary Seminar
Good morning. I’m Ken Bentsen, president and CEO of SIFMA. Thank you for joining us today for SIFMA’s Department of…
SIFMA President and CEO Kenneth E. Bentsen, Jr. Remarks as Prepared for SIFMA’s 2016 Private Client Conference
Good morning. I’m Ken Bentsen, president and CEO of SIFMA. Thank you for joining us at SIFMA’s 38th annual Private…
SIFMA Executive Vice President Randy Snook Remarks as Prepared for SIFMA’s 2016 Private Client Conference
Good afternoon. I’m Randy Snook, executive vice president of business policies and practices at SIFMA. It’s terrific to have all…
SB 265: Requirements for Financial Advisors, Connecticut
SIFMA provides comments to the Connecticut State Capitol on SB 265. This bill would require a “financial advisor” to provide…
SIFMA Supports the ‘Senior $afe Act’ to Prevent Elder Financial Abuse
Release Date: January 7, 2016 Contact: Carol Danko, 202-962-7390, cdanko@sifma.org SIFMA Supports the ‘Senior $afe Act’ to Prevent Elder Financial…
SIFMA Comments on FINRA’s Senior Investor Protections Proposal
Release Date: December 2, 2015 Contact: Carol Danko, 202-962-7390, cdanko@sifma.org SIFMA Comments on FINRA’s Senior Investor Protections Proposal Washington, DC,…
SIFMA’s Bentsen Delivers Opening Remarks at Senior Investor Forum
Release Date: October 13, 2015 Contact: Carol Danko, 202-962-7390, cdanko@sifma.org SIFMA’s Bentsen Delivers Opening Remarks at Senior Investor Forum New…
Academic Data Proposals
SIFMA provided comments to the Financial Industry Regulatory Authority (FINRA) and Municipal Securities Rulemaking Board (MSRB) on their academic data…
SIFMA on the U.S. Department of Labor’s Proposed ‘Conflict of Interest’ Rule
SIFMA’s statement for the record before the Capital Markets and Government Sponsored Enterprises Subcommittee and Oversight and Investigations Subcommittee at…
SIFMA’s Bentsen Raises Concerns with Proposed Retirement Regulation at DOL Hearing
Release Date: August 10, 2015 Contact: Carol Danko, 202-962-7390, cdanko@sifma.org SIFMA’s Bentsen Raises Concerns with Proposed Retirement Regulation at…
Kenneth E. Bentsen, Jr. on a Proposed ‘Conflict of Interest’ Rule
Testimony of Kenneth E. Bentsen, Jr., President and CEO, SIFMA before the United States Department of Labor (DOL) on a…
Overtime Pay Proposal
SIFMA, The Clearing House Association L.L.C., the Independent Community Bankers of America, the American Bankers Association, the Mortgage Bankers Association…
Fiduciary Rule Proposal – Additional Exemptions
SIFMA is pleased to provide comments regarding the Department of Labor's ("Department") proposed amendments to PTCE 75-1, Parts III and…
Fiduciary Rule Proposal – Executive Summary
SIFMA is pleased to provide comments regarding the Department of Labor's ("Department") proposed regulation under the Employee Retirement Income Security…
Fiduciary Rule Proposal -The Fiduciary Rule Itself
SIFMA is pleased to provide comments regarding the Department of Labor's ("Department") proposed regulation under the Employee Retirement Income Security…
Fiduciary Rule Proposal – Best Interest Contract Exemption (BIC exemption)
SIFMA is pleased to provide comments regarding the Department of Labor's ("Department") Proposed Best Interest Contract Exemption ("BIC Exemption") under…
Fiduciary Rule Proposal – Prohibited Transaction Class Exemption (“PTCE”) 84-24
SIFMA is pleased to provide comments regarding the Department of Labor's ("Department") proposal to amend and partially revoke Prohibited Transaction…
Fiduciary Rule Proposal – Prohibited Transaction Class Exemption (“PTCE”) 86-128
SIFMA is pleased to provide comments regarding the Department of Labor's ("Department") proposal to amend and partially revoke Prohibited Transaction…
Fiduciary Rule Proposal – Prohibited Transaction Class Exemption (“PTCE”) 75-1, Part V
SIFMA is pleased to provide comments regarding the Department of Labor's ("Department") proposed amendment to PTE 75-1, Part V, which…
Fiduciary Rule Proposal – Principal Transactions
SIFMA is pleased to provide comments regarding the Department of Labor's ("Department") proposed exemption under the Employee Retirement Income Security…
Requesting Further Relief from the Prior Written Consent Requirement for Sweep Program
SIFMA submitted a comment letter to the Securities and Exchange Commission requesting further relief from the recently imposed requirement under…
Removal of Ratings and Diversification Requirements for 2a-7 Funds
SIFMA submitted a comment letter to the Securities and Exchange Commission (SEC) regarding the removal of ratings and issuer diversification…
Extending SEC Rule 206(3)-3T’s Sunset Date until 2016
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the SEC's proposal to extend the sunset date of…
Investors First: A Fiduciary Standard for Brokers
Investors’ best interests should be put first by their financial advisor. SIFMA has long supported a uniform fiduciary standard of…
Data Relating to the Duties of Brokers, Dealers & Investment Advisers
SIFMA provides comments to the Securities and Exchange Commission (SEC) on data and information to help inform two SEC inquiries: (i)…
Social Media Legislation
SIFMA provides comments to the Rhode Island State Senate Majority Leader expressing its concerns about proposed social media legislation, SB 493, as currently…
Social Media Legislation
SIFMA provides comments to the Rhode Island State Senate Judiciary Committee expressing its concerns about proposed social media legislation, SB 493, as…
Colorado State Senate Labor Committee Social Media Legislation
SIFMA provides comments to the Colorado State Senate Labor Committee opposing social media legislation, HB 1046, as currently drafted. This…
Vermont State House Social Media Legislation
SIFMA provides comments to the Vermont State House expressing its serious concerns about proposed social media legislation, S.7, as currently…
Colorado Senate & House on Social Media Legislation
SIFMA provides comments to the Colorado State Senate and House opposing social media legislation, HB 1046, as currently drafted. This…
Prominent Placement of FINRA BrokerCheck
SIFMA provides comments to the Financial Industry Regulatory Authority (FINRA) on a proposed change to FINRA Rule 2267, that would…
Rhode Island State House Social Media Legislation
SIFMA provides comments to the Rhode Island State House expressing its serious concerns about proposed social media legislation, HB 5255,…
New Hampshire House of Representatives Social Media Legislation
SIFMA provides comments to the New Hampshire House of Representatives expressing its serious concerns about proposed social media legislation, HB 379…
An Unnecessary Re-litigation of Fiduciary
It seems as though we continue to re-litigate the past on one of Dodd-Frank’s most thoroughly debated provisions—the uniform fiduciary…
GAO’s Study of Custody Rule Costs
SIFMA provides comments to the Government Accountability Office (GAO) on GAO Study of Custody Rule Costs (250684). The study is required…
SEC Rule 206(3)-3T’s Sunset Date Until 2014
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the Temporary Rule Regarding Principal Trades with Certain Advisory…
Chet Helck on The Investment Adviser Oversight Act of 2012
Testimony of Chet Helck, Chairman-Elect, SIFMA and CEO, Global Private Client Group, Raymond James Financial, Inc. before the U.S. House…
Framework for Rulemaking Under the Fiduciary Duty Provision of the Dodd-Frank Act
SIFMA provides a supplemental filing to the Securities and Exchange Commission (SEC) on developing a framework for rulemaking under Section 913…
Financial Literacy Among Investors
The Private Client Legal Committee of SIFMA provides comments to the Securities and Exchange Commission (SEC) on the SEC’s study…
DOL Department’s Request for Data
SIFMA, the Invested Retirement Institute (IRI), and the Financial Services Roundtable (FSR) provide comments to the Employee Benefits Security Administration (EBSA) of…
John Taft on Broker-Dealers and Investment Advisers
Testimony of John Taft, SIFMA Chairman, and Head of U.S. Wealth Management, RBC Wealth Management before the U.S. House Financial Services Subcommittee…
Proposed Framework for Rulemaking Under Section 913 (Fiduciary Duty) of the Dodd-Frank Act
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposed Framework for Rulemaking under Section 913 (Fiduciary…
Rule G-23 – Activities of Financial Advisors
SIFMA submits comments to the Municipal Securities Rulemaking Board (MSRB) on amendments to Rule G-23 filed with the Securities and…
SIFMA and Other Associations on Protecting Americans’ Retirement Savings
SIFMA, together with the American Bankers Association (ABA), The Financial Services Roundtable (FSR), the Financial Services Institute (FSI), Insured Retirement…
Proposed Consolidated FINRA Rule Governing Investment Company Securities
SIFMA provides comments to the Securities and Exchange Commission on the proposed consolidated Financial Industry Regulatory Authority (FINRA) rule governing…
DOL Proposed Definition of Fiduciary Regulation
SIFMA provides supplemental comments to the Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) on the…
DOL Proposed Definition of Fiduciary Regulation
SIFMA provides comments to the Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) on the DOL's proposed regulation…
FINRA’s Proposal Relating to Fiduciary Standard
SIFMA provides comments to the Financial Industry Regulatory Authority (FINRA) on FINRA's Concept Proposal that would require members to provide a disclosure…
GAO Study Regarding Dodd-Frank Wall Street Reform & Consumer Protection Act
SIFMA submits responses to six questions posed by the Government Accountability Office (GAO) on September 28, 2010, in connection with…
Study Regarding Obligations of Brokers, Dealers, & Investment Advisers
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a study regarding obligations of brokers, dealers, and investment…
Mutual Fund Distribution Fees
SIFMA provides comments to the Securities and Exchange Commission (SEC) on mutual fund distribution fees, otherwise known as 12b-1 fees,…
Form ADV Amendments
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the SEC's Form ADV brochure and brochure supplement issues. SIFMA requests…
Obligations of Brokers, Dealers, & Investment Advisers
SIFMA provides comments to the Securities and Exchange Commission (SEC) on a study regarding obligations of brokers, dealers, and investment…
Proposed Rule Change to Arbitrator List Selection
SIFMA's Arbitration Committee provides comments to the Securities and Exchange Commission (SEC) regarding the proposed rule change to the arbitrator list…
Notice of Filing of Proposed Rule Change to Amend FINRA BrokerCheck Disclosure Rule
SIFMA's Small Firms Committee provides comments to the Securities and Exchange Commission (SEC) regarding the proposed amendments to FINRA Rule 8312,…
Investor Protection Act as it Pertains to Fiduciary Duty
SIFMA provides comments to the House Financial Committee on the Investor Protection Act, Section 103, as it pertains to fiduciary…
John Taft on Financial Services
Testimony of John Taft, Head of U.S. Wealth Management, RBC Wealth Management, and Chairman of the Private Client Group Steering…
James McCarthy on Defined Benefit Pension Plan Funding Levels and Investment Advice Rules
Testimony of James McCarthy, Managing Director, Retirement Plan Services, Morgan Stanley Smith Barney on behalf of The Securities Industry and…
E. John Moloney on Small Business
Testimony of E. John Moloney President and CEO Moloney Securities Company, Inc. Chairman Small Firms Committee Securities Industry and Financial…
Investment Company Securities
SIFMA's Private Client Legal Committee provides comments to the Financial Industry Regulatory Authority (FINRA) on investment company securities, FINRA Regulatory Notice…
Advisers Act Custody Rule
SIFMA's Private Client Legal Committee provides comments to the Securities and Exchange Commission (SEC) on proposed amendments to Rule 206(4)-2, Advisers…
T. Timothy Ryan, Jr. on Enhancing Investor Protection
Testimony of T. Timothy Ryan, Jr., President & CEO of SIFMA before the U.S. Senate Banking, Housing and Urban Affairs Committee for…
Proposed Investment Advice Exemption & Proposed Class Exemption on Investment Advice
SIFMA provides comments to the Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor on a proposal to make…
Guidance Relating the Duties and Responsibilities of Investment Company Boards of Directors
SIFMA provides comments to the Securities and Exchange Commission (SEC) on SEC guidance regarding the duties and responsibilities of investment company…
IOSCO Point of Sale Disclosure Issues Paper
SIFMA provides comments to International Organization of Securities Commissions (IOSCO) on the IOSCO Point of Sale Disclosure Issues Paper. SIFMA recommends that additional…
William E. Ryan III on Proposed Amendments To Regulations Under ERISA Section 408(B)(2) Presented By William. E. Ryan III
SIFMA Testimony on Proposed Amendments To Regulations Under ERISA Section 408(B)(2) Presented By William. E. Ryan III
Small Businesses Add Value for Employees Act of 2008
SIFMA provides comments to U.S. Representative Ron Kind (D-3rd, Wis.) on the Small Businesses Add Value for Employees Act of 2008 (SAVE Act,…
Small Businesses Add Value for Employees of 2008
SIFMA provides comments to U.S. Representative Ron Kind (D-3rd, Wis.) on the the Small Businesses Add Value for Employees of 2008, the SAVE…
Release of Information through NASD’s BrokerCheck
The Securities Industry Association (SIA)* provides comments to the Securities and Exchange Commission (SEC) on proposed amendments relating to the release of…