More than 563 investment firms own these spot bitcoin ETFs, according to SEC filings.
The proposal also seeks to designate RIAs as “donor advisors,” subjecting them to excise taxes.
The SEC and the Treasury Department want to require advisors to step up their anti-money-laundering efforts.
The Association of African American Financial Advisors said the rule could cost Black advisors clients and jobs.
Companies and advisors who breach the fiduciary rules also face excise taxes and possible class-action suits.
The rule is more vulnerable than a similar Obama-era edict that was overturned by the courts, the financial industry law firm says.
The president's budget proposal would also end backdoor Roth conversions for the wealthy.
Investors in small retirement plans and those who roll over into annuities will reap the greatest savings, researchers found.
Thieves used the B-D's cash management accounts to transfer millions from outside institutions.
Three experts weigh in on the motion for an injunction against the new rule and hopes to vacate it.
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