The provision that certain mutual fund policies cannot be changed without
shareholder approval is addressed in the
A) Investment Company Act of 1940.
B) Securities Exchange Act of 1934.
C) Investment Advisers Act of 1940.
D) Securities Act of 1933.
~~> A) Investment Company Act of 1940....
increase client expectations of brokers and advisers and put downward
pressure on fees.
The bar is being raised since there is increasing public awareness of the
differences between fiduciary and nonfiduciary advice. The enactment of
Regulation Best Interest has raised the bar and increased expectations of
broker-dealers. The SEC has also released guidance on the fiduciary duties
that advisers owe to their clients. These developments will increase client
expectations of brokers and advisers and put downward pressure on fees
and the sale of certain products, especially complex high fee products that
are now being discouraged.
Which act repealed a prohibition that had been in place preventing
financial institutions from offering a combination of commercial banking,
investment banking, and insurance services?
A)
Gramm-Leach-Bliley Act of 1999
B)
USA Patriot Act of 2001
C)
Master01 | September, 2024/2025 | Latest update
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