The US Supreme Court’s decision in Loper Bright Enters. v. Raimondo and Relentless v. Department of Commerce has raised questions regarding the future of financial services regulation, including by the US Securities and...more
8/2/2024
/ Administrative Procedure Act ,
CFTC ,
Chevron Deference ,
Chevron v NRDC ,
Government Agencies ,
Judicial Authority ,
Loper Bright Enterprises v Raimondo ,
Regulatory Authority ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Statutory Interpretation
The US Department of Labor (DOL) amended Prohibited Transaction Exemption 2020-02 (PTE 2020-02) to provide relief for recommendations of all types of principal trades. This change, effective September 23, 2024 and subject to...more
The US Securities and Exchange Commission (SEC) proposed on July 26, 2023 new rules designed to address conflicts of interest from the use of predictive data analytics in “investor interactions” by broker-dealers and...more
The US Securities and Exchange Commission (SEC) issued a notice of proposed rulemaking (the Proposal) on March 15 that would require SEC-regulated investment advisers, investment companies, and broker dealers to provide...more
529 Plans are state-sponsored investment programs that facilitate savings for qualified education expenses, including tuition, fees, room and board, and other education-related expenses. Unlike retirement accounts that...more
The US Securities and Exchange Commission (SEC) recently proposed a comprehensive framework of cybersecurity-related rules and amendments for investment advisers and investment companies. Although advisers and funds may have...more
The SEC’s interpretation of the investment adviser standard of conduct appears to refine the contours of the fiduciary duty that investment advisers owe their clients under the Advisers Act, enhance disclosure obligations,...more
To help retail investors better understand the services, fees, costs, conflicts of interest, and required standards of conduct that apply to relationships with broker-dealers (Broker-Dealers), federally registered investment...more
6/28/2019
/ Best Interest Standard ,
Broker-Dealer ,
Conflicts of Interest ,
Department of Labor (DOL) ,
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) ,
Standard of Conduct
As Massachusetts steps up to the plate, New Jersey extends comment period and announces public hearing.
Just as the comment period on New Jersey’s fiduciary rule proposal came to a close, Massachusetts Secretary of State...more
The Securities and Exchange Commission (SEC) has adopted a package of rules and interpretations on the provision of advice to retail customers. Some of these rules come with tight compliance dates, and firms that will be...more
The US Securities and Exchange Commission voted on June 5 to adopt its long-awaited rules governing retail advice. These new standards of conduct include the adoption of Regulation BI and Form CRS, as well as interpretive...more
This LawFlash describes the key questions raised by the US Securities and Exchange Commission’s new proposed interpretation of the standard of conduct for investment advisers and discusses its potential impact on the existing...more
This LawFlash analyzes the key aspects and questions raised by proposed Regulation Best Interest, including its impact on broker-dealers from disclosure, compliance, and operational perspectives....more
The DOL has issued transition FAQs and a nonenforcement policy—meanwhile, here comes the SEC....more
Financial institutions should prepare for increased regulatory scrutiny.
The Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission (SEC) released their examination priorities...more