News, Vision & Voice for the Advisory Community


A 'perp walk' is still preferred but oddly unified SEC and FINRA signal that wild west days are over for robo-advisors and blockchain coins

The two regulators are working in "unison" to find a way to balance the regulation of 'digital assets' while ensuring firms' have the scope to innovate

Author Oisin Breen March 1, 2019 at 11:42 PM
no description available
Stephen Murphy: The brashness required to challenge an industry does not mix well with the rigidities of the regulated securities market ... When the hammer comes down, it will most likely be swift and heavy.




Randy Bullard

Randy Bullard

March 3, 2019 — 4:04 AM
Trout's comments regarding robo-advice providers are on the money. Contrary to what Oisin implies, the SEC's published priorities for 2019 say absolutely nothing about digita/robo advice, and there are other sources and articles indicating that robo/digital advice was a major focus of the SEC 2018 and prior years, that they had a small number of enforcement actions (cited in this article), and that the industry has been left fully intact without any findings or citations that strike at the core business model of digital wealth management services or providers. Contrary to the implication of the article title, the robo-advice space is not under attack by the regulators. Hogwash.
Randy Bullard

Randy Bullard

March 4, 2019 — 7:02 PM
The 2018 published SEC examination priorities cite a focus on "Electronic Investment Advice" - <a href="https://www.sec.gov/about/offices/ocie/national-examination-program-priorities-2018.pdf" rel="nofollow">https://www.sec.gov/about/offices/ocie/national-examination-program-priorities-2018.pdf</a> The 2019 examination priorities specifically make no such mention - <a href="https://www.sec.gov/files/OCIE%202019%20Priorities.pdf" rel="nofollow">https://www.sec.gov/files/OCIE%202019%20Priorities.pdf</a> I don't think "perp walking" robo-advisors is on their agenda.

Related Moves

March 9, 2023 at 1:23 AM

Why FINRA's late appearance into smoothie-throwing broker James Iannazzo's life might be rough

It's been about 11 months since Merrill Lynch fired him, and the CFP Board stripped him of the CFP mark; attracting the SRO's attention means more woes.

December 29, 2022 at 1:05 AM

November 18, 2022 at 2:56 AM

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings

Common Tags

Recent Articles

Popular Writers

RIABiz logo


About Us




RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.