MMI Submits Three Comment Letters to Industry Regulators

As part of our continued efforts to advocate on behalf of the advisory solutions industry, MMI’s Legal & Compliance committee has worked in conjunction with our retained counsel to submit three recent comment letters to industry regulators.

  • The first comment letter, to the DOL and dated March 15, 2017, supported a minimum 60-day extension of the applicability date of all aspects of the DOL Fiduciary Rule, including the definition of “fiduciary” and each condition of the prohibited transaction exemptions.
  • The second comment letter, to FINRA and dated March 27, 2017, supported its proposed amendment to allow hypothetical or projected performance in marketing materials.
  • The most recent, dated April 17, 2017 to the DOL, provided a more in-depth explanation of the risks and potential impact of the DOL Fiduciary Rule.