A recent post on SIFMA's "Pennsylvania + Wall" blog is highly critical of a recently published academic report. SIFMA argues that the report makes "overly broad and inflated claims" concerning levels of misconduct among financial advisors.
SIFMA expressed support for the Senior$afe Act of 2015. In a letter to Senators Susan Collins (R-ME) and Claire McCaskill (D-MO), SIFMA stated that the act would prevent financial exploitation and "better protect firms and advisors who are looking out for the best interest of their elder clients".
SIFMA urged FINRA and MSRB to adopt a "uniform approach" to disclosure requirements for retail customer confirmations of debt and municipal securities transactions. SIFMA's comments were in response to FINRA's Regulatory Notice 15-36 and the MSRB's Regulatory Notice 2015-16 (collectively, the "Proposals").
SIFMA filed an amicus curiae brief with the U.S. Supreme Court in Merrill Lynch, Pierce, Fenner & Smith, Inc., et al. v. Manning . The case presents the question of whether claims that are based on state law but that relate to violations of the Exchange Act must be heard in federal court. The...