The SEC is creating a national database that will allow investors to search for barred and suspended advisors and brokers, reports Financial Advisor. SEC Chairman Jay Clayton told attendees at a recent regulatory conference about the plan for the first-ever website and database. Meanwhile, the agency will continue to examine “complex, obscure, or hidden fees and expenses that can harm investors,” Clayton said. See the full story below. Also, Michael Kitces, in a post at his Nerd’s Eye View blog, takes a deep dive into the recently released and much anticipated GOP tax reform legislation dubbed the “Tax Cuts and Jobs Act.” There still may be negotiations and alterations ahead, but it’s important for advisors to know how they and their clients could be affected. Kitces discusses the proposed tax brackets, implications of the repeal of the AMT, changes to capital gains rates, standard deductions, itemized expenses, and much more. See the link below. (In the meantime, Senate Republicans have released their own tax-cut bill.)
SEC Creating Searchable Database Of Barred Advisors
By Tracey Longo
Source: Financial Advisor
Securities and Exchange Commission (SEC) Chairman Jay Clayton told the nation’s top regulators and securities attorneys today that the agency is creating the first-ever website and national database that investors can search to ferret out barred and suspended advisors and brokers.
Evaluating The Proposed Individual Tax Reforms Under The House Republican Tax Plan
By Michael Kitces
Source: Nerd’s Eye View blog
After more than a year of buzz from both House Republicans, and President Trump, and high-level proposals that were scant on crucial details, this week the House GOP finally unveiled the actual draft legislation of its proposed tax reform – kicking off the messy process of Congressional compromises that may still be necessary to actually pass the reforms into law, but providing a first real glimpse at exactly what is on the table.