Home » Archive by Tags

Articles tagged with: Investor protection and corporate governance

Press Release: More than 230,000 Petition Signers Support a Strong Fiduciary-duty Rule for Retirement Investment Advisers
July 16, 2015 – 10:00 am

With the rulemaking process moving into its final stages, the Department of Labor received a delivery today of petitions in which more than 230,000 signers call for action to protect Americans against self-serving retirement advice. The signatures were gathered by CREDO Action, MoveOn.org, Americans for Financial Reform, and Public Citizen. Ethel Sprouse, the former Mayor of Cedar Bluff, Alabama, accompanied the petition deliverers and told her story at the event.

AFR in the News: Democrats Are Fed Up with the SEC’s Weak Financial Crimefighting (New Republic)
June 18, 2015 – 2:48 pm

“The lead agency for investor protection isn’t a natural target for the party’s liberal wing… But half of all Americans own some form of stock… More important, the securities industry has insinuated itself into more of American life. Individuals and small business increasingly get loans through the capital markets; our 401(k) plans are based on publicly traded investments… ‘We marketized our retirement system, we marketized our banking system, and the SEC is the main securities regulator,’ said Marcus Stanley, policy director for the coalition Americans for Financial Reform.”

Press Release: More than 13,500 People Tell the CFPB: Happy Birthday and Keep up the Good Fight
June 3, 2015 – 3:33 pm

Consumer Financial Protection Bureau Director Richard Cordray accepted delivery today of a set of birthday-card-style petitions in which more than 13,500 Americans express their support and gratitude for the Bureau’s efforts “to safeguard American consumers, …

Joint Statement: 225,000 Americans tell Congress and Obama Administration to follow through on a strong fiduciary-duty rule for retirement advisers
April 24, 2015 – 9:26 am

With a public review process just getting underway, CREDO Action, MoveOn.org, AFR and Public Citizen have submitted petitions in which more than 225,000 people tell lawmakers and regulators to uphold the promise of strong action to protect Americans against self-serving retirement advice.

Joint Statement: AFR and 40 Major Groups Applaud Public Release of DOL’s Proposal to Protect Americans’ Retirement Savings
April 14, 2015 – 4:18 pm

“Members of the SaveOurRetirement.org coalition and a diverse collection of public interest groups, civil rights leaders, labor unions, professional organizations and others today commended the public release of the Department of Labor’s (DOL) proposed rule to protect Americans from conflicts of interest when brokers and other financial advisers give retirement investment advice.”

AFR in the News: Wall Street Fires Back at Obama Over Broker Standards
March 17, 2015 – 9:24 am

The Department of Labor, backed by the rest of the Obama administration, has renewed its push to hold retirement advisers to tougher standards, seeking to require more brokers to act in the best interest of their clients. That effort has in turn spurred another bout of vigorous lobbying by Wall Street interests, keen on preserving the status quo… “There is just a tidal wave of opposition,” says Lisa Donner of Americans for Financial Reform, a consumer group that supports the proposed rules. “This has been a very long time coming.”

AFR in the News: Consumer groups accuse SEC of ignoring investors (Investment News)
March 12, 2015 – 10:11 am

“We are concerned that the Securities and Exchange Commission — which has always prided itself on serving as ‘the investors’ advocate’ — appears in recent years to have strayed from its primary focus on its investor protection mission,” the letter stated. “Given the vital role that average investors play in our markets and the overall economy, and the serious shortcomings that exist in the regulatory protections they receive, it is time in our view for these issues to be prioritized.”

AFR in the News: About That Bill Name (Politico)
March 11, 2015 – 10:32 am

“Americans for Financial Reform is urging Congress to reject Rep. Ann Wagner’s bill to halt Labor Department’s fiduciary duty rule. In a March 10 letter to Congress, AFR says: ‘On behalf of Americans for Financial Reform, we are writing to express our opposition to HR 1090, the ‘Retail Investor Protection Act.’ This misnamed legislation in fact eliminates needed protections for retail investors … Financial professionals not covered by a fiduciary duty are legally free to recommend investments that benefit them, the seller of the product, at the expense of the customer who is saving for their future.’”