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Investment Adviser State Securities Regulators

Moore & Van Allen PLLC

Acting Chairman Uyeda Suggests Revisiting the Role of State Securities Regulators in Connection with Mid-size Investment Advisers...

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On April 8, 2025, then Acting Chairman Mark T. Uyeda of the U.S. Securities and Exchange Commission (“SEC”), highlighted in remarks before the Annual Conference on Federal and State Securities Cooperation two areas where...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: January 1, 2024

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges....more

Goodwin

CFPB Announces Supervision of Nonbanks and Seeks Comment on Risk-Determination Procedures

Goodwin on

Regulatory Developments - CFPB Announces Supervision of Nonbanks and Seeks Comment on Risk-Determination Procedures - On April 25, the CFPB announced its intention to supervise nonbanks, including fintechs, whose...more

Winstead PC

SEC Investment Advisers: Texas says “April Fools!” to Federal Preemption?

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On April 1, 2021, the Texas State Securities Board (TSSB) announced the entry of a Consent Order against an SEC registered investment adviser named Independent Financial Group, LLC (“Independent”). The TSSB’s action may...more

Eversheds Sutherland (US) LLP

The emerging patchwork of fiduciary investment advice regulation – Putting the pieces together (update)

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

Harris Beach Murtha PLLC

Massachusetts Adopts First-in-the-Nation Fiduciary Duty Regulations Applicable to Broker-Dealers and Agents

On February 21, 2020, the Massachusetts Securities Division adopted final amendments to its regulations, formalizing a fiduciary duty rule applicable to broker-dealers and broker-dealer agents (the “Amendments”). The...more

Faegre Drinker Biddle & Reath LLP

State Fiduciary Duty Developments: Massachusetts Moves Ahead with Fiduciary Standard

The Massachusetts Securities Division has issued an amended version of its proposed fiduciary standard for financial advisors. The original proposal was released in mid-June....more

Harris Beach Murtha PLLC

Massachusetts Proposes Final Fiduciary Rule

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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

Harris Beach Murtha PLLC

One Size (Table) Fits All? Key Takeaways from the Massachusetts Securities Division's Investment Advisor Training

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On October 29, 2019, the Massachusetts Securities Division presented critical information regarding its new fee table regulation as part of its annual RICE Section Conference Series. Based on the presentation and feedback...more

Winstead PC

Investment Advisers and Fee Disclosures

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The Massachusetts Securities Division (MSD) recently announced that it is seeking comments on a proposed format to standardize the disclosure of investment advisory fees. This step should be noted by investment advisers...more

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