Regulation Best Interest, RIA Interpretation and Consideration of “Account Types” (Part 3) -
The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Rule, RIA Interpretation and Solely Incidental...more
The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Rule, RIA Interpretation and Solely Incidental Interpretation. I am discussing the SEC’s guidance in a series of articles entitled “Best Interest...more
Regulation Best Interest: SEC 2020 Examination Priorities—Examinations for Compliance With Reg BI and the Investment Adviser Interpretation -
The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Rule,...more
1/30/2020
/ Best Interest Standard ,
Broker-Dealer ,
Compliance ,
Disclosure Requirements ,
Duty of Care ,
Duty of Loyalty ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
Form ADV ,
Form CRS ,
Investment Adviser ,
OCIE ,
Registered Investment Advisors ,
Regulation Best Interest ,
Regulation BI ,
Retailers ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Share Class Selection Disclosure Initiative (SCSD) ,
Share Classes
Regulation Best Interest: Rollover Recommendations and Form CRS/ADV Part 3 Disclosures (Rollovers Part 6) -
The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Rule, RIA Interpretation and Solely...more
12/11/2019
/ Best Interest Standard ,
Broker-Dealer ,
Disclosure Requirements ,
Fiduciary Duty ,
Final Rules ,
Form ADV ,
Form CRS ,
Investment Adviser ,
Investment Management ,
New Rules ,
Regulation Best Interest ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Standard of Care ,
Standard of Conduct
Regulation Best Interest: Rollover Recommendations for Investment Advisers (Rollovers Part 4)-
The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Rule, RIA Interpretation and Solely Incidental...more
11/20/2019
/ Best Interest Standard ,
Broker-Dealer ,
Conflicts of Interest ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Investment Management ,
Investors ,
IRA Rollovers ,
Registered Investment Advisors ,
Regulation Best Interest ,
Retirement ,
Securities and Exchange Commission (SEC) ,
Standard of Conduct
The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Regulation, RIA Interpretation and Solely Incidental Interpretation. I am discussing the SEC’s guidance in a series of articles entitled “Best Interest...more
Regulation Best Interest:
The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Regulation, RIA Interpretation and Solely Incidental Interpretation. I am discussing the SEC’s guidance in a series of...more
10/17/2019
/ Best Interest Standard ,
Broker-Dealer ,
Disclosure Requirements ,
Fiduciary Duty ,
Final Rules ,
Financial Industry Regulatory Authority (FINRA) ,
Form CRS ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
New Rules ,
Regulation Best Interest ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Standard of Care ,
Standard of Conduct
Lessons Learned from Litigation (#4)—The Johns Hopkins Case -
This is the twelfth in a series of articles about Best Practices for Plan Sponsors. To be clear, “best practices” are not the same as legal requirements....more
In light of the significance of the final rules and commission interpretations issued by the Securities and Exchange Commission (SEC) on June 5, 2019, Drinker Biddle & Reath’s Best Interest Compliance Team is publishing a...more
Regulation Best Interest: The Focus on Costs (Part 2) -
The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Regulation, RIA Interpretation and Solely Incidental Interpretation. I am discussing the...more
9/18/2019
/ Best Interest Standard ,
Broker-Dealer ,
Disclosure Requirements ,
Fiduciary Duty ,
Final Rules ,
Form CRS ,
Investment Adviser ,
Investment Management ,
New Rules ,
Regulation Best Interest ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Standard of Care ,
Standard of Conduct
This is the eleventh in a series of articles about Best Practices for Plan Sponsors. To be clear, “best practices” are not the same as legal requirements. Instead, they are about better ways to manage retirement plans. In...more
9/11/2019
/ Benefit Plan Sponsors ,
Best Practices ,
Business Expenses ,
Duty of Loyalty ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fiduciary Duty ,
Investment Management ,
Recordkeeping Requirements ,
Retirement Plan ,
Revenue Sharing ,
Risk Management ,
Settlement Agreements ,
Share Classes
Regulation Best Interest: The Focus on Costs (Part 1) -
The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Regulation, RIA Interpretation and Solely Incidental Interpretation. I am discussing the...more
8/27/2019
/ Best Interest Standard ,
Broker-Dealer ,
Conflicts of Interest ,
Fiduciary Duty ,
Form CRS ,
Investment Adviser ,
New Rules ,
Registered Representatives ,
Regulation Best Interest ,
Securities and Exchange Commission (SEC) ,
Standard of Conduct
In light of the significance of Regulation Best Interest (Reg BI) for the financial services industry, Drinker Biddle & Reath’s Best Interest Compliance Team is publishing a series of articles on the Securities and Exchange...more
8/19/2019
/ Best Interest Standard ,
Broker-Dealer ,
Disclosure Requirements ,
EDGAR ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
Form CRS ,
Investment Adviser ,
Investment Management ,
New Rules ,
Regulation Best Interest ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Standard of Conduct
On June 5, 2019, the Securities and Exchange Commission (SEC), led by Chairman Jay Clayton, voted 3 to 1 to approve the four agenda items that encompassed the “Reg BI Package.” These four items were Regulation Best Interest –...more
6/13/2019
/ Broker-Dealer ,
Duty of Care ,
Duty of Loyalty ,
Fiduciary Duty ,
Form CRS ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
New Rules ,
Regulation Best Interest ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Standard of Conduct
The recent settlement of the Anthem class action lawsuit (Bell v. ATH Holding Company, LLC) reflects some trends in 401(k) litigation: the focus on share classes, arguments to support inclusion of non-mutual fund investments...more
Best Practices: Lessons Learned from Litigation (#2)—the Vanderbilt Case -
I am writing two series of articles that together are called “The Bests.” One is about Best Practices for Plan Sponsors, while the other is about...more
6/12/2019
/ 403(b) Plans ,
Benchmarks ,
Benefit Plan Sponsors ,
Best Practices ,
Excessive Fees ,
Fiduciary Duty ,
Investment Management ,
Mutual Funds ,
Recordkeeping Requirements ,
Request for Proposals ,
Retirement Plan ,
Risk Management ,
Settlement Agreements ,
Share Classes ,
Third-Party Service Provider
Best Practices: Lessons Learned from Litigation—the Anthem Case -
I am writing two series of articles that together are called “The Bests.” One is about Best Practices for Plan Sponsors, while the other is about the Best...more
5/21/2019
/ Benefit Plan Sponsors ,
Best Practices ,
Class Action ,
Excessive Fees ,
Fiduciary Duty ,
Interest Rates ,
Investment Adviser ,
Money Market Funds ,
Mutual Funds ,
Plan Administrators ,
Recordkeeping Requirements ,
Request for Proposals ,
Risk Management ,
Settlement Agreements ,
Share Classes