{"id":1240,"date":"2013-04-28T16:04:45","date_gmt":"2013-04-28T16:04:45","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/04\/controversial_democratic_appoi"},"modified":"2022-03-10T16:33:59","modified_gmt":"2022-03-10T22:33:59","slug":"controversial-democratic-appoi","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/controversial-democratic-appoi\/","title":{"rendered":"Controversial Democratic Appointee Pushes SEC for Less Talk About Investor and Securities Market Protections and More Action"},"content":{"rendered":"<p>\t\t\t\tAccording to Securities and Exchange Commissioner Luis Aguilar, the growing number of registered investment advisers, the increasing complexity of the financial instruments they use, and the recent trends in securities examinations show that there is a need for the regulator to up the vigorousness of its investment adviser examinations and enforcement activities. He noted that even as the SEC is working to give the regulated community best practices and guidance to enhance compliance, it also intends to increase its scrutiny of advisers, including more exams (especially for private fund advisers). Alternative investment managers will also get more attention. <\/p>\n<p>Aguilar pointed out that with the number SEC registered investment advisers having gone up about 50% to over 10,000 last year, the value of the assets that they manage also increasing from about $22 trillion in 2002 to approximately $44 trillion in 2011, as well as a rise in the number of complex financial instruments that advisers use, there are more chances for &#8220;mischief&#8221; to happen. Hence, there is the need for more robust enforcement.<\/p>\n<p>Also, as our <a href=\"https:\/\/www.securities-fraud-attorneys.com\">securities fraud law firm<\/a> mentioned in a previous <a href=\"https:\/\/www.investorlawyers.com\/blog\/2013\/04\/sec_commissioner_aguilar_calls\">blog post<\/a>, the SEC commissioner wants there to be an end to mandatory arbitration agreements. Per the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, the SEC now can prohibit or limit <a href=\"https:\/\/www.investorlawyers.com\/finra-arbitration-faqs.html\">pre-dispute arbitration agreements<\/a>, which have become standard fare for brokerage firms. Aguilar is concerned that they are also becoming routine for investment advisory firms. He wants the government to ponder the possibility of adopting rules that would stop or limit broker-dealers and investment advisers from mandating that customers sign clauses in their agreements with one another that prevents them from filing securities fraud lawsuits and instead only resolve their disputes via arbitration.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/controversial-democratic-appoi\/\"  title=\"Continue Reading Controversial Democratic Appointee Pushes SEC for Less Talk About Investor and Securities Market Protections and More Action\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to Securities and Exchange Commissioner Luis Aguilar, the growing number of registered investment advisers, the increasing complexity of the financial instruments they use, and the recent trends in securities examinations show that there is a need for the regulator to up the vigorousness of its investment adviser examinations and enforcement activities. He noted that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3798,3781,3760,3741],"tags":[],"class_list":["post-1240","post","type-post","status-publish","format-standard","hentry","category-arbitration","category-investment-advisers","category-sec-enforcement","category-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Controversial Democratic Appointee Pushes SEC for Less Talk About Investor and Securities Market Protections and More Action &#8212; Investor Lawyers Blog &#8212; April 28, 2013<\/title>\n<meta name=\"description\" content=\"According to Securities and Exchange Commissioner Luis Aguilar, the growing number of registered investment advisers, the increasing complexity of the &#8212; April 28, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/controversial-democratic-appoi\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Controversial Democratic Appointee Pushes SEC for Less Talk About Investor and Securities Market Protections and More Action &#8212; Investor Lawyers Blog &#8212; April 28, 2013\" \/>\n<meta name=\"twitter:description\" content=\"According to Securities and Exchange Commissioner Luis Aguilar, the growing number of registered investment advisers, the increasing complexity of the &#8212; April 28, 2013\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Controversial Democratic Appointee Pushes SEC for Less Talk About Investor and Securities Market Protections and More Action &#8212; 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