IAA Letter to FINRA on Proposed Outside Activities Rule
The IAA urges FINRA to reconsider its outside activities rule proposal to exclude oversight of investment adviser activities, which are not subject to FINRA’s jurisdiction
May 13, 2025
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Legal Context of Defined Contribution Plan for Fiduciaries
One of the core responsibilities of defined contribution plan fiduciaries is selecting the investment options that will be available to participants in the plan. This paper summarizes the principles governing the exercise of that responsibility in 50 years of law, regulation, regulatory guidance, and court decisions.
December 13, 2022
Comments on Nevada’s Revised Proposed Fiduciary Duty Regulations
The IAA submitted a letter to Nevada expressing appreciation that its revised proposed regulations regarding fiduciary duty includes language clearly stating that the provisions of the regulation would only apply to an SEC Adviser as permitted by the National Securities Markets Improvement Act of 1996 (NSMIA).
August 02, 2022
Extension of DOL Fiduciary Duty Enforcement Policy
To allow members sufficient time to fully implement the Department of Labor’s fiduciary exemption, the IAA requested an extension of the DOL’s non-enforcement policy, set to expire on December 20, 2021.
September 23, 2021
Comments on Oklahoma’s Amendments to Standards of Ethical Practice Under the Oklahoma Securities Act
The IAA recommended clarifying that the rule would not apply to investment adviser representatives of SEC-registered investment advisers and recommended removing certain redundant language.
March 23, 2020
Comments on the Massachusetts Securities Division’s Fiduciary Duty Rule
The IAA supported the Massachusetts Securities Division’s efforts to clarify that its proposed Fiduciary Conduct Standard does not apply to federal covered advisers and applies to the representatives of SEC-registered advisers only as permitted by NSMIA.
January 06, 2020