spotlight - regulation

8/7/2019 Spotlight - Regulation

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Spotlight: Regulation


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Overview

I nvestmentNews recently surveyed advisers, brokers and insurance agents,asking for their thoughts on the current SEC regula ons affec ng the nancial advisoryindustry. The survey opened on Tuesday, Feb. 1, and closed on Wednesday, Feb. 9.

Of the 511 survey respondents, 79 indicated that they personally manage oradvise at least $250 million in assets.

The following data compares the responses of this group of larger advisers tothose of medium to smaller advisers advisers with less than $250 million in assets.

For more informa on, email Mark Bruno at [email protected] .


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0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

Yes No

81.1%

18.9%

67.1%

32.9%

Respondents with $250M AUM

Respondents with $249.9M AUM

Spotlight: RegulationThe recently completed SEC staff report on a duciary standard encourages SEC commission -

ers to write a regula on that would impose a duciary duty on anyone giving personalizedinvestment advice that is no less stringent than the one that currently applies to invest -

ment advisers. Do you agree with the SEC staffs recommenda on?


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67.1%

Spotlight: RegulationIn another study, the SEC outlined three op ons that Congress could take to strengthenregula on of nancial advisers. Which op on would you choose? (Respondents wereallowed to select only one answer.)


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Spotlight: RegulationShould insurance agents who are also registered reps be subject to a duciary standard?

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

Respondents with $250M AUM Respondents with $249.9M AUM

80.9%93.2%

19.1%6.8%

By the end of March 2011, most adivsers should have led a new Form ADV Part 2 in plain Englisho comply with SEC regula ons. Did you nd the process more difficult than you expected?

0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%

No

Yes

51.9%

48.1%

56.9%

43.1%

Respondents with $250M AUM

Respondents with $249.9MAUM


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Spotlight: RegulationThe Government Accountability Office recently reported to Congress that nancial planners aresufficiently regulated under current federal state laws and no new regula ons are necessary. Doyou agree?

59 .7%

40 .3%

Re sp on dent s w ith $250M AUM

...said no

...said yes

61 .6%

38 .4%

Re sp on dent s w ith $249 .9M AUM

...said yes

...said no


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Spotlight: Regulationhe SEC received more than 1,000 comment le ers last year on its proposal to revamp 12(b)-1 fees.

What do you think will happen?

39 .7%

60 .3%

Resp ondent s w ith $250M AUM

The SECw ill issu e a ne w p ro posalmore f riendl y to the m u tual fu ndand b ro kerage ind us trie s andretain 1 2(b)- 1 f ee s.

The SECw ill s ck to it s guns andado p t a r u le ver y similar to it s

original p ro posal, doing a way w ith 1 2(b)- 1 f ee s and ca pp ingfund mar ke ng and service f ee s.

55 .9%

44 .1%

Resp ondent s w ith $249 .9M AUM

The SECw ill issu e a ne w p roposalmore f riendl y to the m u tual fu ndand b ro kerage ind us trie s andretain 1 2(b)- 1 f ee s.

The SECw ill s ck to it s guns andado p t a r u le ver y similar to it s original p ro posal, doing a way w ith 1 2(b)- 1 f ee s and ca pp ingfu nd mar ke ng and service f ee s.


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Spotlight: RegulationHow has your percep on of the job President Obama is doing changed over the past six months?

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

Im pro vedWorse n ed

Staye d the sa m e

20.8%

44.4%

34.7%

15.7%

43.5%40.8%

Respo nd ent s w $250M AUM

Respo nd ent s w $249.9M AUM

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