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Videocast: Asset management regulation in 2020 videocast series – The annuity regulatory landscape
Videocast: Asset management regulation in 2020 videocast series – Advisers Act regulatory agenda
Videocast: Asset management regulation in 2020 videocast series – Fiduciary investment advice: The patchwork emerges
Videocast: Asset management regulation in 2020 videocast series – SEC enforcement
Videocast: Asset management regulation in 2020 videocast series – Regulators step up pressure to implement LIBOR transition plans
Videocast: Asset management regulation in 2020 videocast series – Complying with new SEC rules for broker-dealers
Videocast: Asset management regulation in 2020 videocast series – DOL: What’s ahead
Videocast: Asset management regulation in 2020 videocast series – SEC’s OCIE exam priorities
Podcast: Credit Funds: Hot Topics in BDC Regulation
Videocast: Form CRS delivery obligations
Regulation Best Interest Videocast Series – Account Recommendations Under Regulation BI
Regulation Best Interest Videocast Series: Special Challenges For Dual Registrants
On April 1, the U.S. Court of Appeals for the First Circuit vacated a summary judgment ruling in favor of the Securities and Exchange Commission (SEC) against Commonwealth Equity Services, LLC, also known as Commonwealth...more
It has been nearly five years since the US Securities and Exchange Commission (‘SEC’ or ‘the Commission’) adopted Regulation Best Interest (Reg BI) to enhance the standard of conduct applicable to broker-dealers when they...more
Like other savvy businesses, investment advisers and broker-dealers have increasingly embraced the use of predictive data analytics, artificial intelligence, and similar technologies (AI-like technologies) to help generate...more
On August 25, 2023, the Massachusetts Supreme Judicial Court upheld the validity of a rule promulgated in 2020 by the secretary of the commonwealth that imposes a broad fiduciary duty upon securities broker-dealers and their...more
On June 15, 2022, the Securities and Exchange Commission (“SEC”) filed a complaint against California-based broker-dealer Western International Securities, Inc. (“Western”) alleging violations of Regulation Best Interest...more
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs - Key Takeaways - ▪️ The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice. ▪️ In FAQ 18, the DOL...more
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary...more
In a forthcoming chapter in The Cambridge Handbook of Investor Protection (Cambridge University Press, 2021) UCLA Law Professor Sung Hui Kim asks "Do Lawyers Make Good Gatekeepers"? She posits that there is "a strong case...more
The DOL “Fiduciary Rule,” FAQ 15: Factors to Evaluate for a Rollover Recommendation (Part 2) - This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles...more
In This Issue. The federal bank regulators published frequently asked questions concerning the London Interbank Offered Rate transition; the Consumer Financial Protection Bureau (CFPB) confirmed an effective date for two...more
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02 (Part 15): Mitigation Strategies - This series focuses on the DOL’s new fiduciary “rule”. This post is the 15th in a subseries discussing special or unique compliance...more
Compliance with new Regulation Best Interest ("Regulation BI") need not prevent environmental, social, and governance ("ESG") investing, but beware of new proposed restrictions for some. As of June 30, 2020,...more
As anticipated, 2020 has seen a number of fiduciary and best interest advice regulations advance at both the federal and state levels. Firms subject to these regulations face challenges in dealing with rules that impose a...more
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
Over the next year, the Department of Labor (DOL) will likely be issuing guidance in a number of areas that could impact asset managers and financial services companies. In this Bottom Line videocast, Carol McClarnon and...more
Recently, the Massachusetts Securities Division made public its proposed final fiduciary duty rule (the “Proposed Rule”). The MSD has requested public comment concerning the Proposed Rule by January 7, 2020....more
A recent decision in Edward D. Jones & Co., LP v. John Kerr (S.D.In. 19-cv-03810 Nov. 14, 2019), illustrates the unique challenges that broker-dealers may face when enforcing post-employment covenants that prohibit former...more
The standard of care for rollover recommendations has been top of mind for broker-dealers beginning with the issuance of the Department of Labor’s (DOL’s) now vacated fiduciary rule, and more recently with the SEC’s...more
As anticipated, this year has seen a number of fiduciary and best interest investment advice regulations advance at both the federal and state levels. Firms subject to these regulations will face challenges in dealing with...more
Covering legal developments and regulatory news for registered funds, their advisers and industry participants through June 30, 2019. Auditor Independence With Respect to Certain Loans or Debtor-Creditor Relationships - On...more
What happened? On June 5, the US Securities and Exchange Commission (SEC) adopted Regulation Best Interest (Reg. BI), a new rule establishing a “best interest” standard of conduct for broker dealers and their natural...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
What happened? On June 5, in a three-to-one vote, the US Securities and Exchange Commission (SEC) adopted a comprehensive package of rulemakings and interpretations governing the standard of conduct applicable to...more
The SEC’s Regulation Best Interest has important implications for institutionally focused broker-dealers and investment bankers. On June 5, 2019, the US Securities and Exchange Commission (SEC) adopted Regulation Best...more
The issue of “best interest” continues to be a hot topic in the states and trade groups, though one state has fallen out of the running…at least for now. The State of Massachusetts has two pending initiatives. The first is...more