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Financial Literacy – important?

More regulation in 2013 is certain.  The Dodd-Frank bill is under review and implementation.   The regulators have not yet enacted many of the changes.  When completed, they may require significant modifications to the way you conduct your business. There are a number of proposals awaiting approval which may be completed during the first half of 2013 and to which you will have to respond.


The rules under consideration are too many to mention is this article.  One we believe to be pertinent is is section 917 of Dodd-Frank, Financial Literacy. In August of 2012 a report released by the SEC concluded that the U.S. retail investor lacked significant knowledge in basic financial subjects such as planning, investing and saving. This was particularly evident with women, African-Americans, Hispanics and the elderly. The SEC will be developing education programs, promoting the SEC’s website .  This site will be used to educate the retail investor and will also promote awareness of the fees and costs of investing.  This, along with FINRA’s push to create investor awareness of the financial advisor should put Broker-Dealers, Registered Investment Advisors and the individuals on alert that the public is becoming more educated on with whom they are dealing.  Need we say more about how you work with your clients?  How you operate your firm?


Understanding your compliance responsibilities is our role at RegMaven.  Reach out to us to learn how we can assist with the old rules, the new rules and the rules that are yet to be…

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