The Managed Funds Association urged the SEC to adopt an approach that "protects investors, enhances regulatory coordination, promotes market transparency and increases market fairness and efficiency."
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In a set of recommendations to Congress, the North American Securities Administrators Association emphasized protections for retail investors, seniors and securities markets, as well as the continued "empowerment" of state regulatory authorities.
The Federal Reserve Bank of New York issued a new policy on counterparties for all domestic and foreign market operations. The new policy includes reduced capital requirements applicable to broker-dealer counterparties, including primary dealers in government securities.
The SEC is set to order an inflation based adjustment to the dollar amount thresholds applicable to the minimum net worth requirements of "qualified clients" under the Investment Advisers Act. The threshold adjustment permits investment advisers to charge performance-based fees.
FINRA warned that advertisements promoting higher-than-average CD yields could be used to lure investors into buying high-commission products, such as fixed or equity-indexed annuities.