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SEC Fiduciary Duty

As Washington pressures industry, advice-of-counsel becomes "fertile ground" for litigation
Firm and President/CCO failed to implement P&Ps to ensure it understood the material features and risks of complex products
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As Summit’s sole owner and investment adviser representative, President, and Chief Compliance Officer, Richard Urciuoli was responsible for Summit’s failures
By slipping 2019 fiduciary guidance in as dicta, Commission may signal a crackdown
The mid adult loan officer patiently and cheerfully help sthe senior man find the best investment option for retirement savings.
This tool can help staff and clients decide the best option when rolling over funds
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Masella, who knew the private placement shares were illiquid and restricted, worked with Pinnacle and its principals to classify the investment as “less liquid” rather ...
SEC Commissioner Crenshaw
"Investment advisers and broker-dealers that recommend these products must ensure that they are in the client’s or customer’s best interest"
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"This conduct was inconsistent with the prospectuses for the LETFs, which stated that the products carried unique risks, were designed to be held for no ...
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A greater understanding of what it takes to comply with the SEC’s best interest standard comes out of new staff guidance designed to help advisers ...
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These are the second set of FAQs the SEC staff has released related to IA's fiduciary duty and B-D's Reg BI obligations

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