Kelley A. Howes

Kelley A. Howes

Morrison & Foerster LLP

Contact  |  View Bio  |  RSS

Latest Posts › Fiduciary Duty

Share:

Investment Management Legal + Regulatory Update -- December 2013

In This Issue: Regulatory Updates - SEC Continues to Look at a Uniform Fiduciary Standard for Broker-Dealers and Investment Advisers; SEC Grants Unusual Exemptive Relief from Pay-to-Play “Time-Out” Provision;...more

12/11/2013 - Broker-Dealer Compliance Conflicts of Interest Directors Fiduciary Duty FINRA Investment Funds SEC

Uniform Fiduciary Standard Still a Priority, But No Timeline Yet

Both the SEC and FINRA believe that the question of whether a uniform fiduciary standard should be imposed on broker-dealers and investment advisers needs to be resolved. The problem is, neither one seems to have a view...more

11/15/2013 - Broker-Dealer Fiduciary Duty FINRA Investment Adviser SEC Uniform Fiduciaries Act

SEC Sanctions Investment Adviser for Pushing Class A Shares When Investors Qualified to Buy Institutional Class Shares

The Securities and Exchange Commission sanctioned an investment adviser and its owner for failing to seek best execution and breaching their fiduciary duty in selecting mutual fund share classes for three advisory...more

10/3/2013 - Broker Commissions Broker-Dealer Fiduciary Duty Investment Adviser Investment Advisers Act of 1940 Mutual Funds Sanctions SEC

Court Tosses ETF Securities Lending Fee Case

A federal district court in Tennessee dismissed a case brought by two union pension funds claiming that securities lending fees paid by an ETF to its adviser’s affiliate violated the adviser’s fiduciary duty under Section...more

9/4/2013 - Affiliates ETFs Fees Fiduciary Duty Investment Company Act of 1940 Lending Pensions Unions

One Step Closer to a Fiduciary Duty for Broker-Dealers?

More than two years after an SEC Staff study recommended adoption of a uniform fiduciary standard for broker-dealers and investment advisers, the SEC has taken its first significant step towards possible implementation of the...more

3/7/2013 - Broker-Dealer Dodd-Frank Fiduciary Duty Investment Adviser SEC

SEC Accuses Fund Directors of Breaching Their Valuation Duties

In a case involving fair valuation of structured notes, the SEC signaled that when investment company fund boards delegate the responsibility to fair value portfolio securities, they must provide “meaningful substantive...more

1/4/2013 - Board of Directors Enforcement Fiduciary Duty Investment Adviser SEC Valuation

6 Results
|
View per page
Page: of 1