Brokers

 Commentary, news and links of interest to financial advisers.

Brokers News

New York Guidance on State Securities Filing Rules

New York has released additional guidance on recent rule amendments prepared by the Investor Protection Bureau (IPB) and adopted in 2020. Through these new rules, the Office of the Attorney General (OAG) has increased transparency for the public into the investment adviser representatives and securities issuers operating in New York state. […]

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Can a Non-Citizen Be An Accredited Investor?

There is no residency or citizenship requirement in the definition of an accredited investor. Many entities and individuals are accredited investors. Rule 501 of Regulation D defines the term. For individuals, accredited investors include: Any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive officer, […]

Brokers Investors News

Are Advisors Too Expensive?

According to a survey conducted by the personal finance website MagnifyMoney, nearly half of U.S. adults think financial advisors are expensive and only for the wealthy, even though almost all who use advisors consider them worth it, according to a new survey. The survey of 1,500 adults found that 30% […]

Brokers Compliance News

Review Your WSPs – Subpoenas are Coming

The authority to open SEC investigations, and therefore to issue subpoenas, was expanded under the Obama Administration to the director of Enforcement, rather than solely to the Commission itself. The Director of Enforcement then delegated that authority to various senior officials, including regional and associate directors and specialized unit chiefs. […]