Are model portfolio providers essentially providing investment advice?
Are certain "information providers" acting as investment advisers? If you want to share your perspective on the issue, now is the time to put pen to paper. The U.S. Securities and Exchange Commission is seeking input from the public on matters related to the activities of index providers, model portfolio providers, and pricing services, to determine whether these sources are essentially providing investment advice. The SEC will consider public comment on the issue as it decides whether regulatory action is appropriate. This announcement was made yesterday, on June 15th and the SEC's press release can be found here.