Environment, Financial Services High on Regulatory Compliance Lists

Lora Bentley

SearchCompliance.com's Alexander Howard did a nice roundup this week of the compliance trends we're in for in the next six months. Not surprisingly, increased regulation and enforcement is right around the corner. Of course, Financial Industry Regulatory Authority CEO Rick Ketchum and Securities and Exchange Commissioner Luis Aguilar have both suggested as such in recent days, but as Howard says, when these two are talking about it, we should pay attention.


Ketchum thinks investment advisers need a single fiduciary standard, and so far financial folks like the idea. They are concerned, however, about what the Obama administration's plan calls "harmonizing" the regulation of investment advisers and broker-dealers. InvestmentNews quotes Financial Planning Association managing director Dan Barry this way:


"We'd be concerned if by harmonization they would subject investment advisers to the oversight of FINRA."


Representatives from the U.S. Attorney General's office have also indicated that they will be quick to enforce securities and antitrust laws; SearchCompliance.com also reports the Department of Justice is cracking down on Federal Corrupt Practices Act violations. Former deputy attorney general Paul McNulty says officials have seen fines totallng "hundreds of millions" in the last six months for FCPA violations.


Also on writer Howard's list were other topics we too have discussed at length here at IT Business Edge. Namely, XBRL requirements and <strong>environmental legislation</strong>.

Add Comment      Leave a comment on this blog post
Jul 1, 2009 12:50 PM Peter Boritz Peter Boritz  says:

XBRL presents itself as an ideal solution for aggregating the necessary information required for TARP assessment and decision making. A possible solution is to extend the US-GAAP by using mostly existing line items married with risk assessment hyper cubes and dimensions custom designed for these purposes. The goal would be a restatement of prior period earnings based on market to market write downs of any CDS in a company's portfolio. This could be based on semantics scraped from text based disclosures. The result of any substantial changes in balance sheet equity collated across industry wide aggregation could provide the analytic data required for intelligent decision making.

Dec 27, 2009 2:25 AM UK Financial Advisors UK Financial Advisors  says:

In the current year has been a movement towards fee based advice as it is perceived as fair in the customer's address. However, due to the capitalization in the field of consultancy and the unwillingness of consumers to pay for something they perceive as getting for free, the transition to fee-based advice has been slow and concentrated on the network division high importance too.


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