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Article: Exploring future regulation of financial planners. (Financial Planning).(Financial Planning Association)(Brief Article)
- Article from:
- The Practical Accountant
- Article date:
- August 1, 2002
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Financial Planning Association has released the results of an 11-month research project on historical, existing, and possible future regulation of the profession in the form of a 140-page white paper by Cornell law professor Jonathan Macey.
The paper points out that although the financial services industry is regulated, the financial planning profession itself lacks a stand-alone regulatory scheme. It also indicated that although federal and state governments do not regulate financial planners as a professional group, their activities and conduct are intensively regulated in their capacity as investment advisers, insurance agents, stockbrokers, accountants, ...