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SEC Fiduciary Duty

The SEC has filed a cherry-picking suit against a New Jersey investment adviser and its president—less than a decade after the firm’s parent company was ...
Recordings caught Kamensky saying "Because they’re going to say that I abused my position as a fiduciary, which I probably did, right? Maybe I should ...
The book’s sample fiduciary code of ethics is built around seven provisions
While both broker-dealers and investment advisers may be subject to a best interest standard of conduct, there are significant differences in the customer/client relationship covered
The fact that the recipient of the recommendation is a regulated financial services industry professional would not excuse a firm from complying with Regulation Best ...
Republican SEC Commissioners have approved new rules that define proxy advisors as “solicitors” and voted in favor of issuing new guidance warning investment advisers to ...
Republican SEC Commissioners on July 22 approved new guidance that warns investment advisers to consider targeted companies’ responses to proxy advisor analyses before casting their ...
Republican SEC Commissioners on July 22 approved the first-of-their-kind rules for proxy advisors. Among other things, it defines proxy advice as “solicitation” under Sec. 14(a) ...
Hester Peirce
"Today’s supplemental guidance, while focused on investment advisers’ consideration of additional information generated by today’s amendments, underscores that investment advisers must use voting advice they ...
Why now? The proposal states that “the regulatory landscape has changed as other regulators, including the SEC, have adopted enhanced conduct standards for financial services ...
The new regulation abandons the “core principles of the Advisers Act” ... as investment advisers and B-Ds “are as different as butchers and nutritionists.”
Advisers and B-Ds should especially focus on rollovers and 401(k) withdrawals
"Broker-dealers and investment advisers should review their operations to be sure they are making recommendations or providing investment advice to retail investors that is in ...
For two Clients who explicitly requested that Vescio disclose the fees charged, Vescio negligently failed to include 12b-1 fees
Defendants also violated their fiduciary duty by failing adequately to disclose to their clients the conflict of interest inherent in these transactions
A private fund isn’t a personal fund, and the SEC has just driven the point home by barring a Maryland investment adviser for helping himself ...
Such a hedge clause generally is likely to mislead those retail clients into not exercising their legal rights
An adviser should consider whether investments are recommended only to those clients who can and are willing to tolerate the risks
Looking to identify IAs who outsource voting decisions
These SEC FAQs can help you prepare for Reg BI
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