Under the legislation, the Investment Advisors Act would be amended to simply delete the current exclusion under that law for broker-dealers whose advice is incidental to the conduct of his or her business and who therefore receive no special compensation for such advice.
Perhaps most troubling, what started out in the administration's draft as an effort to provide the SEC with authority to engage in rulemaking to provide for a harmonized fiduciary standard of care, has become, in Dodd's draft, a significant expansion of the application of the Investment Advisors Act to all broker-dealers, other than mere order takers," Spear says.
The advice must be provided by a "fiduciary adviser," which is defined as a registered investment adviser (under the Investment Advisors Act
of 1940) or a bank, insurance company or broker-dealer (under the Securities Act of 1934).
pdf), which exempts certain fee-based broker-dealers from the provisions of the Investment Advisors Act
It covers all significant statutory provisions, including the Security Exchange Act of 1934, the Investment Company Act of 1940, the Investment Advisors Act
of 1940 and the privacy provisions of the Gramm--Leach--Bliley Act.
The first panel debated the scope of the Investment Advisors Act
of 1940 (Act); among the participants was the AICPA's Director of Personal Financial Planning.
com), the investment-consulting affiliate of The Segal Company, is registered with the Securities & Exchange Commission as an investment adviser under the Investment Advisors Act
of 1940, and has offered independent investment consulting services since 1969.
206(4)-3, "Cash Payments for Client Solicitations," of the Investment Advisors Act
LM Capital Group, LLC is a San Diego-based independent investment advisory firm registered under the Investment Advisors Act
The amended complaint also alleges that defendants violated Section 206 of the Investment Advisors Act
and Section 17(a) of the Securities Act of 1933 by engaging in a deceptive course conduct which operated as a fraud or deceit upon the named plaintiffs and class members.
ACP") is filing to become a registered Business Development Company ("BDC") under the 1940 Investment Company Act, and the subsequent amendments under the 1980 Investment Advisors Act
Madison Investment Advisors acts
as Investment Adviser for individuals, corporations, pension funds, endowments, insurance companies and mutual funds.