| FSI Meets with NASAA BD Section |
| January 30, 2012 On January 20, FSI meet with the NASAA BD and NASAA’s BD Section Project Chairs to discuss issues of mutual concern to each group. |
| FSI Statement on meeting with DOL on Potential Fiduciary Rule |
| January 27, 2012 The Financial Services Institute (FSI) today met with officials at the Department of Labor. This meeting was a result of a joint coalition letter in response to the Department’s December letter requesting industry information. |
| FINRA Provides Important Changes to Rule Regarding Communications with the Public |
January 10, 2012
We are pleased to report that FINRA has responded to concerns we raised regarding a proposed rule that would make significant changes with respect to communications with the public. |
| Building Relationships with State Regulators |
| January 10, 2012 FSI staff and members recently had the opportunity to meet with state regulators in Missouri and Massachusetts to introduce FSI and to share the concerns of independent broker-dealers and our industry.
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| FSI Joins Coalition Opposing Massachusetts Legislation Regarding 401(k) Plans for Non-Profit Organizations |
| January 10, 2012 The Massachusetts Legislature recently passed legislation that would authorize the State Treasurer to sponsor a defined contribution plan that may be adopted by non-profit employers and their employees. |
| House Republicans Provide Guidance to the DOL on the Definition of Fiduciary |
| January 10, 2012 On Monday, December 5, 2011, 55 Republican members of the House of Representatives signed onto a letter that was sent to Hilda Solis, Secretary of the Department of Labor (DOL).
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| Establishing Ties with FINRA to Better Inform Regulatory Process |
| January 10, 2012 In response to our recent invitation urging FSI members to submit applications for FINRA District Committee elections, we are very pleased to inform you that FSI members responded to our call, and with impressive results.
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| FSI Seeks Additional Improvements to FINRA Rules |
January 10, 2012
We are pleased to report that FINRA has responded to concerns we raised regarding a proposed rule. |
| Victory on Repealing 3% Withholding Tax |
| January 10, 2012 On November 21, 2011, President Obama signed into law H.R. 674, which repealed an onerous 3% withholding tax that was enacted under the Tax Increase Prevention and Reconciliation Act of 2005 (P.L. 109-222) and which was set to take effect on January 1, 2013.
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| Florida Branch Office Registration Improves with FSI’s Push |
| October 24, 2011 Over the past several years, FSI has constructively engaged the Florida Office of Financial Regulation (OFR) related to the length of time it takes to register a branch office in the state. On September 27, 2011, we recieved an update from the OFR indicating that they have made significant improvements to their branch office registation approval process.
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| FSI Testifies Before House Financial Services Committee on Harmonization of Regulatory Requirements |
| September 27, 2011 On September 13, 2011, William E. Dwyer, III, Chairman of FSI and President of National Sales and Marketing for LPL Financial, appeared at a hearing before the House Financial Services Subcommittee on Capital Markets to testify on Sections 913 and 914 of the Dodd-Frank Act.
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| Influencing the FINRA Rule Book Consolidation an FSI Priority |
| September 27, 2011 On August 24, 2011, FSI submitted a comment letter to the SEC in response to FINRA’s proposed changes to its rules regarding communications with the public.
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| FSI Urges Members to Submit Applications for FINRA District Committee Elections |
| September 27, 2011 FINRA recently announced its nomination and election procedures to fill vacancies on FINRA District Committees.
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| FSI Secures Major Victory Protecting Independent Contractor Status of California Financial Advisors |
| August 18, 2011 FSI is pleased to report we successfully advocated for the adoption of amendments to California Senate Bill 459 (Corbett).
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| FSI Meets with Officials from the Department of Labor |
| August 18, 2011 On July 21, 2011 Dale Brown, President & CEO of FSI, led a coalition comprised of members of FSI and the Financial Services Roundtable in a meeting with the DOL.
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| FSI Voices Concerns Over FINRA’s Revised Supervision Rules |
| July 22, 2011 On June 10, The Financial Industry Regulatory Authority (FINRA) filed with the Securities and Exchange Commission (SEC) for approval proposed changes to existing supervision rules. The proposal seeks to consolidate NASD and NYSE supervision rules, classify previously issued guidance and adopt core changes to the supervision rules. |
| FSI Endorses Candidate for FINRA Small Firm Seat |
| July 20, 2011 The Financial Services Institute (FSI) today publically endorsed John Moloney, Chairman and CEO of Moloney Securities Co. and an FSI member, to be elected to the FINRA Board of Governors. |
| FSI Takes the Pulse of the SEC |
| July 20, 2011 On July 6, Dale Brown, President & CEO of FSI, David Bellaire, General Counsel and Director of Government Affairs for FSI, and Neal Sullivan, Outside Policy Council to FSI, met with Eileen Rominger, Director of the SEC’s Division of Investment Management, and Bob Plaze, Deputy Director of the SEC’s Division of Investment Management. |
| FSI Meets with Senior White House Officials Over DOL Fiduciary Issue |
| July 20, 2011 On Thursday, June 30, FSI Chairman Bill Dwyer, FSI Vice Chairman Joe Russo, FSI President and CEO Dale Brown and the FSI Advocacy team along with The Financial Services Roundtable, met with Gene Sperling, Assistant to the President for Economic Policy and Director of the National Economic Council (NEC) to address FSI’s concerns with the Department of Labor’s (DOL) proposed rule on definition of fiduciary. |
| FSI Meets Minnesota Department of Commerce |
July 20, 2011
On June 23, Matthew Schwartz, Government Affairs Counsel at FSI, along with Jennifer Relien of FSI member firm Woodbury Financial Services, and Andrea Golis of FSI member firm Thrivent Financial, met with Michael Rothman, Commissioner of the Minnesota Department of Commerce, and his staff. |