While appropriate regulations enhance transparency and accountability in the financial sector, an excessive load of compliance and regulatory burden can lead to many unintended consequences that ultimately hurt the very individuals they aim to protect as well as all the financial security professionals (FSPs) providing that service.
In case you missed it, the latter – more compliance and greater regulatory burdens – may be coming your way if the SEC wins its ongoing legal challenge in SEC v. Cutter.*
Finseca – unapologetically – supports the noble work that you do each and every day. Striking the right balance between effective oversight and allowing FSPs the flexibility to serve their clients' best interests is crucial to ensure that consumers receive the high-quality, accessible, and innovative financial advice they need. But an overreach beyond that balance is problematic. That’s why we are formally opposing the SEC’s actions – you can read our legal brief here.
Remember, we continue to see the impact a stronger, more unified voice can have on our work – with policymakers, regulators, and the consumers we serve. If you haven’t encouraged your colleagues and peers to join Finseca, now is the time. You can direct them to this link to sign up.
Importantly, I would be remiss not to extend my sincere thanks to NAFA and its team for their efforts and invaluable partnership on this issue.
Together, we will achieve Financial Security for All, but it starts with making sure your work is easier, not harder.
-Marc
CEO, Finseca
*Finseca does not represent the Defendant in this case, nor do we support his specific actions in recommending any investments or insurance or annuity products.
In the know. On the inside.
|
The Finseca Flash is your source of breaking news impacting the financial security profession, keeping you in the know on critical policy, regulatory, and industry updates as they happen, and telling you exactly what it means for your business. |