CFTC / SEC Joint Report recommends that a “consistent standard” apply to all providers of advisory services

In the section on Financial Intermediaries, the CFTC/SEC Joint Report “recommends legislation that would impose a uniform fiduciary duty on intermediaries who provide similar investment advisory services regarding futures or securities. Consistent with Title IX of the Administration’s financial regulatory reform legislation, which seeks to establish a uniform standard of conduct for broker-dealers and investment advisers, the agencies recommend that a consistent standard apply to any CTA, FCM, introducing broker (“IB”), broker-dealer, or investment adviser who provides similar investment advisory services”.

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Stay On Top Of The Debt Relief Industry's Regulatory Landscape

On November 6-7, 2022, Shipkevich PLLC will be hosting a Regulatory Workshop in Costa Mesa, California focusing on the fundamental regulatory issues facing debt relief professionals and how they can adapt.