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The Financial Report, Volume 5, Number 12 - June, 2016 (Global)

by DLA Piper on

... and Analysis In our last edition, we discussed a recent SEC enforcement action against a private equity fund advisory firm and its owner, who agreed to pay more than $3 million to settle charges that included engaging in brokerage activities and charging fees without registering as a broker-dealer. In that case, the advisory firm allegedly... more

The Cold Comfort of the Best Interest Contract Exemption

by Latham & Watkins LLP on

... BIC Exemption to the new DOL Fiduciary Rule offers some relief, but at a potentially prohibitive cost. The US Department of Labor (the DOL) recently forced the most significant change to the investment community since the enactment of the Employee Retirement Income Security Act of 1974 (ERISA). The DOL has expanded the scope of ERISA’s... more