"If the proposal is adopted, firms that rely on the Internet Advisers Exemption—thus being regulated by the SEC rather than state securities regulators—would actually need ...
"The proposal would eliminate the ability for internet advisers to have any non-internet clients and require that the adviser’s website or mobile application always be ...
"An exemption that was intended to be quite narrow has become broad – and broadly-misused – to the benefit of certain non-compliant advisers who may ...
"Today’s proposed amendments would require an adviser to have an operational interactive website or mobile app, to provide advice solely to clients via the website, ...
"The Examinations staff found that nearly half of those firms relying on the exemption were ineligible to do so"
"This proposal goes far beyond to encompass nearly everything. In this regard, consider that the proposed rules cover anything that is either analytical, technological, or ...
"I am especially proud of the work done by the Retail Strategy Task Force, which was formed by the SEC’s Division of Enforcement in 2017 ...
"The threshold question is whether our current rules are protective enough of retail investors, in light of technology-driven change in our capital markets. Judging from ...
"For us at the SEC, we have a three-part mission, focused ultimately on making sure that the markets—broker-dealers, the investment advisers, so-called intermediaries in the ...
"Registered investment advisers grew by 20 percent .... the number of private funds advised by registered investment advisers increased by 50 percent to approximately 50,000. ...