Tag: Fiduciary
New Reg BI FAQs Focus on Use of “Adviser” and “Advisor,” Dual-Hatted Employees
SEC staff issued several new FAQs on August 4 on the application of Regulation Best Interest (Reg BI) to dual registrants and dual-hatted employees that may be of interest to IAA members.
August 11, 2020
Tags: Dual Registrant, Fiduciary, Reg BI
IAA Comments on DOL’s Proposed Fiduciary Exemption
The IAA has submitted a comment letter to the Department of Labor on that agency’s proposed fiduciary exemption.
August 10, 2020
Tags: Compliance, Digital Advice, DOL, Fiduciary
Fiduciary Advice in a New Era: A Real Relationship for the Long Term
On June 30, the SEC’s new standard of conduct for broker-dealers (Reg BI) and Form CRS for advisers and brokers went live, with the Advisers Act fiduciary interpretation having already been in effect over the past year.
July 13, 2020
Tags: Columns, DOL, Fiduciary, Form CRS, From the President & CEO, Karen Barr, Reg BI
An Adviser’s Fiduciary Duty: How the Landscape Has Changed and What to Do About It
An adviser’s fiduciary duty might not look much different today than it did a year ago, viewed strictly from the standpoint of the obligations owed. After all, advisers must still meet fundamental duties of loyalty and care.
July 10, 2020
Tags: Columns, Compliance Corner, Fiduciary, Form CRS, Reg BI
Two years after its fiduciary rule was vacated, the DOL has officially reinstated the five-part test to determine whether a person is an investment advice fiduciary.
July 01, 2020
Supreme Court Dismisses Case Brought by DB Plan Participants for Lack of Standing
In a 5-4 decision written by Associate Justice Brett Kavanaugh, the U.S. Supreme Court found that two retired participants in a defined benefit plan did not have standing under Article III of the Constitution.
June 09, 2020
Tags: ERISA, Fiduciary, Supreme Court
DOL Confirms DC Plans May Offer Options that Include Private Equity Investments
The DOL recently issued an Information Letter confirming that defined contribution plans may offer as an investment option a professionally managed asset allocation fund, such as a target date fund, that includes as a component private equity investments.
June 09, 2020
Tags: DOL, ERISA, Fiduciary, Jay Clayton, Private Equity
DOL Sends New Fiduciary Rule Proposal, Other Items to OMB
The DOL has sent a proposal entitled “Improving Investment Advice for Workers and Retirees Exemption” to the Office of Management and Budget for review.
June 09, 2020
Tags: DOL, Fiduciary, SECURE Act
The IAA is strongly opposing a proposed sales practice rule that would place new, prescriptive requirements on those investment advisers that use leveraged and inverse investment vehicles in client portfolios.
May 06, 2020
Tags: Derivatives, Fiduciary
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