"Today’s proposed rules take a principles-based approach to defining covered functions as a service that is necessary to provide advisory services and would materially harm ...
"The rule thus may end up abrogating fiduciary duty and replacing it with our predefined approach to best interest—one not responsive to unique facts and ...
"When an adviser outsources a core function, that adviser does not check its fiduciary duties at the door"
"The data-gathering component of the proposal would improve our ability to identify concentration of service providers in specific regions for certain functions, domestically and abroad"
"I have other concerns, including the overlap between our amended investment company advertising rules and FINRA’s communications rules, but I think you get the point ...
"Shareholder reports will include a simplified expense presentation – a table showing the expenses associated with a hypothetical $10,000 investment in the fund during the ...
"Modernizing disclosures goes to the heart of the Commission’s mission to protect investors. Today’s release does exactly that"
"There may be a role for enhanced procedures for oversight of specified functions performed by third parties for investment advisers, but the breadth of this ...
"Today’s final rules would require fund companies to share a concise set of materials that get to the heart of the matter"
"I support today’s amendments, although I agree with Commissioner Peirce that the Commission should address concerns regarding the disclosure requirements related to acquired fund fees ...