EDA, along with several other trades, expresses its concerns with Nevada law SB 383, which removes the exemption for broker-dealers from the definition of financial planner. Final Joint Letter to Foley_June 23 2017 (002)
The Equity Dealers of America (EDA) appreciates the opportunity to comment on the Financial Industry Regulatory Authority’s (FINRA) notice regarding potential enhancements to certain engagement programs (Engagement Notice). Read the Full Letter
Five years ago last month, a Democratic President, a Democratic Senate, and a Republican House overwhelmingly agreed that the regulatory tax on capital was preventing small businesses from creating jobs. To address this, the JOBS Act was passed. The JOBS Act removed some of the regulatory tax by reducing or eliminating certain regulations for small business. The law established a category of companies with revenue under $1 billion known as emerging growth companies, or EGCs. EGCs are eligible for a… read more →
“The EDA also believes that the Fiduciary Rule should be rescinded in its entirety and that a further delay to the applicability date by the DOL will be necessary to achieve that end. We strongly support this course of action.” Click here, to read the letter.
“Today the Equity Dealers of America filed a comment letter with the DOL supporting its proposed delay of the applicability date.” Click here, to read the letter.
Broker-dealer groups endorse the change, saying it would put them on a level playing field with investment advisers Mar 8, 2017 @ 1:46 pm By Mark Schoeff Jr, Investment News Finra is accepting comments on a proposal that would allow brokers to project the performance of investment strategies in communications with clients. Under the proposal by the Financial Industry Regulatory Authority Inc., a broker could distribute to clients a hypothetical financial plan that includes projected performance of an asset allocation… read more →
“Today the Equity Dealers of America filed a comment letter with FINRA supporting its proposed amendment to Rule 2210. Two highlights from the letter are set forth below: “Providing registered representatives (“RR”) of EDA members with the flexibility to use the Illustration with their clients when discussing asset allocation and investment strategies as set forth in the Regulatory Notice 17-06, even if we ultimately decide not to use it, would place our members on a level playing field with stand-alone… read more →
The Equity Dealers of America (EDA) is announcing its FY 2016 Board Leadership Washington, D.C.—The EDA Membership has named Nik Fisken of Stephens Inc. as its Chairman and Jeffrey Klinefelter of Piper Jaffray & Co. as its Vice Chairman, both will serve on the EDA Executive Committee. EDA Membership also named Michael Purpura of D.A. Davidson & Co., Brian Alexander of Raymond James Financial, and Peter Kies of Robert W. Baird & Co. to serve on the EDA Executive Committee.… read more →
The Equity Dealers of America write Speaker Ryan and Leader Pelosi to urge the U.S. House of Representatives to take up and pass H.J. Res. 88, ‘Disapproving the rule submitted by the Department of Labor relating the definition of the term “Fiduciary”‘. Click here, to read the letter.
EDA Says DOL Rule is confusing, complicated, and costly Washington, D.C.—The Chief Executive Officer of the Equity Dealers of America, Chris Iacovella, released the following statement today in the wake of Congressional action aimed at blocking the Department of Labor’s new Fiduciary Rule. “The EDA strongly supports the Senate and House resolutions to block the DOL fiduciary rule. This rule confuses investors, interferes with individual investment decisions, and taxes the retirement dollars of hardworking Americans, and we applaud Congress for… read more →
EDA Says Incentivizing Small and Mid-Cap Company Research is Essential Washington, D.C.—The Chief Executive Officer of the Equity Dealers of America, Chris Iacovella, released the following statement today about the House Financial Services Committee, Subcommittee on Capital Markets and GSEs Hearing “JOBS Act at Four: Examining Its Impact and Proposals to Further Enhance Capital Formation.” “We strongly believe that the committee can further enhance the equity capital formation process by focusing on solutions that will increase the amount of equity… read more →
EDA Says DOL Rule Misses the Mark on Consumer Protection Washington, D.C.—The Chief Executive Officer of the Equity Dealers of America, Chris Iacovella, released the following statement today after the Department of Labor issued its new Fiduciary Standard rule. “We believe it’s time for Congress to use the Congressional Review Act to subject the DOL fiduciary rule to its scrutiny. Giving Congress the ability to question a major rule that impacts Americans in every corner of this country, is exactly… read more →
Washington, D.C.—The American Securities Association (ASA) was formed to advance the business, market, regulatory, and legislative interests of American regional financial services firms. This organization will provide an exclusive platform for Main Street firms and their executive leadership to address issues significant and specific to them. “Deep roots and knowledge of local markets allow ASA member firms to better serve their communities than larger Wall Street firms. It is why we are trusted sources of financial advice for individuals and… read more →