TITLE

Rules & REGULATIONS

PUB. DATE
June 1996
SOURCE
Journal of Financial Planning;Jun96, Vol. 9 Issue 3, p92
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article focuses on the confusion faced by planning organizations about the U.S. Security and Exchange Commission's (SEC) directive to the investment advisers for a uniform state and federal regulation. It refers to letter written by the presidents of three national planning organizations to SEC's chairman Arthur Levitt asking for the clarification of SEC of its position on the new directives. The letter was prompted by Levitt's strong opposition to congressional securities reform legislation without bipartisan consensus. The bill in question, HR 3005, does not call for any changes to the 1940 Investment Advisers Act, under which investment advisers are regulated on the federal level, although Levitt indicated this was an area of consensus that should have been addressed. But the presidents of the Institute of Certified Financial Planners, International Association for Financial Planning, and National Association of Personal Financial Advisors took issue with the assumption that there was consensus on investment adviser regulation. INSETS: State Activity;Uniform Adviser Amendments Considered in Congress;Institute's Arizona Lobbying Efforts Succeed in New Bill;Highest-Ever Pass Rate for CFP Exam
ACCESSION #
5560802

 

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