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Securities and Exchange Commission (SEC) Annuities Investment Adviser

Carlton Fields

Expect Focus - Volume II, May 2025

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Builder of Investment Models Deviates From Blueprints Employee’s Rogue Remodeling Costs Builder Plenty - The SEC’s recent order instituting administrative and cease-and-desist proceedings (OIP) against registered...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (45): The Regulation and Exemptions are Stayed (5)—What Remains?

The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” fiduciary regulation (the 5-part test) and the amended exemptions continue in effect indefinitely. As a result,...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (42):The Regulation and Exemptions are Stayed (2)—What Remains?

The DOL’s fiduciary regulation was scheduled to become effective this September 23. The exemptions were scheduled to become partially effective this September 23 and fully effective September 23, 2025....more

Carlton Fields

NAFA Enters the Game, Files Amicus Brief in SEC v. Cutter

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On August 23, 2023, the National Association for Fixed Annuities (NAFA) filed an amicus brief in the case of SEC v. Cutter Financial Group LLC in federal district court in Boston. The brief followed the filing of an amended...more

Faegre Drinker Biddle & Reath LLP

Recent State Fiduciary and Best Interest Developments

To date, 27 states have adopted rules that follow the Suitability in Annuity Transactions Model Regulation issued by the National Association of Insurance Commissioners (NAIC). Recent additions reflected in the following...more

Faegre Drinker Biddle & Reath LLP

Best Interest Standard of Care for Advisors #80: Compliance with PTE 2020-02: Insurance Distribution Issues (Part 2)

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

Eversheds Sutherland (US) LLP

Digital Assets: The SEC’s roadmap for distribution and exams

In the span of the last five months, the Securities and Exchange Commission (SEC) and its staff have issued two statements, a risk alert and an exam priorities roadmap, all of which address digital assets in full or in part....more

Faegre Drinker Biddle & Reath LLP

403(b) and 457(b) Plans Going Under the Regulatory Microscope

It appears that the SEC has initiated a “sweep” examination to inquire into the sales practices applicable to retirement plans for teachers and state and local government employees. We understand that multiple SEC regional...more

Ballard Spahr LLP

Investment Management Update

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Here in is a summary of recent investment management developments that affect registered investment companies, private equity funds, hedge funds, investment advisers, and others in the investment management industry....more

Carlton Fields

SEC Regulation Best Interest: Charting a Course for Securities and Annuity Sales

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In June, we circulated our fifth article on the continuing saga regarding the standard of conduct for sales of securities and annuities — and the efforts of federal and state regulators to impose new conditions on the...more

Carlton Fields

SEC Regulation Best Interest: Charting A Course For Securities And Annuity Sales, Avoiding Collision And Potential Regulatory And...

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During the past two years, we have written about potential litigation arising under the Department of Labor’s, first proposed, then adopted fiduciary rule. In the first of those articles, when the Rule was initially proposed,...more

Carlton Fields

SEC Scrutinizes Multi-Manager Arrangements

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Many mutual funds implement their investment strategies through "multi-manager" (also called "manager of manager") arrangements, particularly funds used to support variable life insurance and annuity products. Among other...more

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