Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Insurers push pols to study broker regulation

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Topic Forums » Economy Donate to DU
struggle4progress Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-17-10 06:46 AM
Original message
Insurers push pols to study broker regulation

Critics claim that the move to lobby senators is intended to delay passage of rules requiring uniform fiduciary standard
By Sara Hansard
January 17, 2010, 6:01 AM EST

With the Senate set to reconvene this week, the insurance industry is stepping up its efforts to encourage members of the Banking Committee to support a comprehensive study into whether brokers should be forced to adhere to a fiduciary standard.

Since December, the American Council of Life Insurers, the National Association of Insurance and Financial Advisors and other insurance groups have been quietly pushing for a study aimed at uncovering regulatory deficiencies with regard to brokers who provide investment advice. The Securities and Exchange Commission, which the insurance groups hope will be charged with overseeing the study, would then be expected to issue rules to remedy those deficiencies.

Critics contend that such a study is unnecessary and is intended to delay the passage of regulations that would hold all advice givers whether they call themselves brokers or investment advisers to a uniform fiduciary standard.

A study is simply a way to prevent extension of the fiduciary duty, said Neil Simon, vice president of government relations for the Investment Adviser Association. It is simply a means to try to kill the effort to extend the fiduciary duty to all those who provide investment advice" ...
Printer Friendly | Permalink |  | Top
bemildred Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-17-10 10:10 AM
Response to Original message
1. It does sound like a stall.
The last thing the financial elites would like is to be forbidden to shear the sheep.
Printer Friendly | Permalink |  | Top
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Sun Jan 21st 2018, 08:57 AM
Response to Original message
Advertisements [?]

Home » Discuss » Topic Forums » Economy Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC