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SEC Fiduciary Duty

Looking to identify IAs who outsource voting decisions
These SEC FAQs can help you prepare for Reg BI
Reg BI arrives June 30: “The court knows what the timeline is. It’s up to the court”
Driscoll: The risk alert will be designed to “help firms prepare for potential exams”
Regulators were emphatic: there will be no delay in Reg BI
SEC “staff reminds broker-dealers that the term ‘investment strategy’ ... is to be interpreted broadly”
Regulation Best Interest expressly applies to account recommendations including recommendations of securities account types
The new report provides “hallmarks” of effective compliance programs detected by the agency over the years
Disclosing conflicts lies at the heart of Reg BI and Form CRS
A “recommendation is always going to be viewed in hindsight, and it’s a very loose term”
Sideletter
Don't bet on a delay in Reg BI
Lauri London, counsel at Cohen & Buckmann, pens her analysis of the SEC's IA fiduciary duty interpretation and whether the interpretation plows new legal ground.
If you were among those who predicted the SEC’s fiduciary duty rulemaking would prompt a legal action, count yourself correct. Attorneys general from seven states ...
A lawsuit filed Aug. 29 in federal court claims an adviser breached its fiduciary duty obligations by placing clients in higher fee mutual fund share ...
SEC Charges Investment Adviser with Defrauding Its Advisory Clients Litigation Release No. 24581 / August 29, 2019 Securities and Exchange Commission v. Cetera Advisors, LLC, ...
In rule document 2019–12164, appearing on pages 33318 through 33492, in the issue of Friday, July 12, 2019 make the following corrections: 1. On page ...
A New York assemblyman is preparing legislation that will bring the ongoing battle over whether broker-dealers owe a fiduciary duty to their clients to the ...
As fee structures grow more complicated, so must your oversight. Controls at many firms “are not keeping up with the complexity of fees that are ...
Speaking before a group in Boston that included retail investors, SEC Chairman Jay Clayton July 8 vigorously defended the Commission’s actions in passing fiduciary duty ...
I want to address a general issue—whether it is appropriate to maintain a regulatory distinction between broker-dealers and investment advisers. A number of commenters expressly ...
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