IIAC AND FMFD FILE JOINT RESPONSE TO FSRA ON PROPOSED FEE RULE TO CREATE FP/FA FEE STRUCTURE
The IIAC and the Federation of Mutual Fund Dealers (FMFD) jointly submitted comments to FSRA on its proposed Fee Rule to create the Financial Planners (FPs)/Financial Advisors (FAs) titling framework. This titling framework adds unnecessary duplication and investor confusion. We continued to advocate for an exemption for both FPs and FAs employed by registrants who are subject to the oversight of an SRO, especially given the announcement of the new SRO. A single, enhanced SRO will retain high professional and proficiency standards and ensure investor protection is adequately protected under a national and harmonized approach.
Click here to read our comment letter.
For more information, please contact Michelle Alexander.