While the regulatory and legislative landscapes remain sketchy until after the Nov. 6 election, industry officials say there are some fairly sure bets advisors can count on.
For starters, the Securities and Exchange Commission's fiduciary rule will maintain momentum regardless of a President Obama or Gov. Mitt Romney win, but the Department of Labor's fiduciary rule won't see the light of day under a Romney administration.
Other certainties are that legislation to create a self-regulatory organization to examine advisors will most likely be reintroduced in the next Congress regardless of an Obama or Romney victory, and sections of the Dodd-Frank Act will face challenges moving forward under both a Republican and Democratic White House and Congress.
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2023. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
