One issue is even if there are no abuses the industry cannot handle having a best interest standard applied to these recommendations. Thats what the dol is doing. Its almost the standard that is applied to broker dealers under the suitability standard. The recommendation must be consistent and you look under the hood and it turns out these are some of the worst violations that you can find. In one case the court said this was egregious misconduct. These are cases if many if not most broker deals. The unsuitable recommendations are accompanied by other Violations Including failure to supervise, churning, misrepresentations or omissions and unauthorized trading. The suitability standard works. Lets not make believe that its actually serving clients best interest. Youve said the current rules support a race to the bottom. Why do you think they support a race to the bottom currently . I think hearing the panelist discuss all the legalese involved here its a well documented fact that its ve
The foreign secretary says the uk does not accept the result of the election. New zealands general election is postponed because of a fresh outbreak of covid 19. Millions of self employed workers in the uk can apply for a second round of grants from today to help support their businesses against the effects of coronavirus. Hello, and welcome. If youre watching in the uk or around the world, stay with us for the latest news and analysis from here and across the globe. Pressure is growing on the government over exam grades as new analysis suggests a level results awarded to students in sixth form colleges in england fell below the average of the past the three years. The sixth Form Colleges Association says its students in england are being treated unfairly. 2completely unfit for purpose is the verdict on the standardisation model used by the regulator quual, according to the Grammar School Heads Association. It says its led to utterly baffling results for some students. This morning, No
Welcome everybody to todays hybrid hearing. Pursuant to house rules some members and witnesses will appear in person and others will appear by zoom. I know you are familiar with zoom by now. Let me remind everyone of a few points. First, the house rules require that we see you. Please have your cameras turned on at all times. Second, members appearing remotely who are not recognized should remain muted to minimize background noise and feedback. Third, i will recognize members verbally, members retain the right to seek recognition verbally. In regular order members will be recognized in crd for questions, lastly if you want to be recognized outside of regular order you may identify that in several ways. You may use the chat unction to send a request, you may send an emailed to the majority staff, or you may unmute your mike to seek a condition. We will get begin the hearing in just a moment when they tell me they are ready to begin the livestream. The committee will come to order, witho
Good morning everybody, welcome everybody to todays hybrid hearing. Pursuant to house rules some members and witnesses will appear in person and others will appear by zoom. I know you are familiar with zoom by now. Let me remind everyone of a few points. First, the house rules require that we see you. Please have your cameras turned on at all times. Second, members appearing remotely who are not recognized should remain muted to minimize background noise and feedback. Third, i will recognize member verbally, members retain the right to seek recognition verbally. In regular order members will be recognized in crd for questions, lastly if you want to be recognized outside of regular order you may identify that in several ways. You may use the chat unction to send a request, you may send an emailed to the majority staff, or you may unmute your mike to seek a condition. We will get gin the hearing in just a moment whenhey tell me they are ready to begin the livestream. The committee will c
Republican members blame the Biden Administration democratic policies for inflationary prices. [background noises] [background noises] good morning everybody paid welcome everybody to todays hybrid hring pursuant to house rules some members of witnesses will appear in persons and other will appear by zoom. I know you are all familiar with zoom by now. But let me remind everyone of just a few points. First, the house rules require that we see you, so please have your camera is turned on at all times. Second, members appearing remotely who are not recognized should remain muted to minimize background noise and feedback. Third, i will recognize mbers verbally but members reach retain the right to receive recognitn verbally paid ranking orders members will be recognize in seniority for questions. Lastly, if you want to ber recognized outside of regular order, you might identify that in several ways. You may use the chat function to send a request. You may send r an email to the majority st