Conflicts of Interest

News & Analysis as of

USDOL Prevails in Kansas in Another Decision on Fiduciary Rule

On February 17, 2017, a federal district Court in Kansas upheld the U.S. Department of Labor’s conflict of interest rule and related exemptions in a suit brought by Market Synergy Group, Inc. This ruling on the merits follows...more

GAO Upholds Waiver(s) of OCI Allegations

On January 30, the U.S. Government Accountability Office (GAO) issued its decision denying Concurrent Technologies Corp.’s (CTC) protest of the U.S. Navy’s award of a support contract for the Navy Manufacturing Technology...more

Big Changes Could Be Coming in Class Action Litigation

On February 10, 2017, U.S. Rep. and House Judiciary Committee Chairman, Bob Goodlatte (R-Va), introduced a new version of his Fairness in Class Action Litigation Act of 2017 (H.R. 985) (the "Act"). The Act, while bearing the...more

Structured Thoughts: News for the financial services community, Volume 8, Issue 2

Identifying Conflicts of Interest in Structured Products Offerings - With FINRA and other regulators focused on conflicts of interest in the broker-dealer industry, market participants are working diligently to identify...more

Labor and Employment Regulations Potentially Affected by Trump Regulatory Freeze

The Trump administration's "Regulatory Freeze Pending Review" (Freeze Memo) instructs the heads of federal executive departments and agencies to send no regulation to the Office of Federal Register (OFR) until a presidential...more

The Lawyers' Lawyer Newsletter - Recent Developments in Risk Management - February 2017

Joint Representation — Conflicts of Interest — Waiver - Foltz v. Columbia Casualty Company, 2016 WL 4734687 (W.D. Ok. 2016) - Risk Management Issue: Can client A's waiver, given with informed consent, permitting...more

Delaware Law Updates – Pleading Breach of the Implied Covenant of Good Faith and Fair Dealing in the Publicly Traded Master...

In Dieckman v. Regency GP LP, --- A.3d ---, 2017 WL 243361 (Del. Jan. 20, 2017), the Delaware Supreme Court reversed the Court of Chancery[1] and held that the common unitholder plaintiff’s complaint properly stated a claim...more

Something We Can All Support: H.R. 985, Picking Up Where CAFA Left Off

Regular blog readers may recall that, every year, we eagerly await a Monday and Tuesday right around February 14th. This has nothing to do with Valentine’s Day (though we like a dozen roses and a box of chocolates as much as...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Three Percent High-Earner Tax Changes Under Consideration - Among the issues Maine’s...more

Update on the USDOL Conflict of Interest Rule and Related Exemptions

There were two key developments last week concerning the ongoing challenges to the U.S. Department of Labor (USDOL) conflict of interest rule and related exemptions:  a Presidential Memorandum calling for a review of the...more

Corporate Governance for Commercial Telcos

John Pietila presented this webinar on corporate governance issues to the NTCA - The Rural Broadband Association in February 2017. Please see full Presentation below for more information....more

Department of Labor Moves to Delay Fiduciary Rule

On Thursday, February 9, 2017, the Department of Labor (DOL) filed a notice with the Office of Management and Budget (OMB) to delay the effective date of the final Conflict of Interest Rule that re-defines who is a fiduciary...more

The Top Ten Regulatory and Litigation Risks for Private Funds in 2017

Private investment funds and advisers are likely to face new regulatory challenges and increased litigation risks in 2017, not only because of a change in the administration, but also because many advisers have not corrected...more

UK Financial Conduct Authority Clamps Down on Retail CFD Products

FCA proposes enhanced disclosure requirements for derivatives being marketed to retail investors who may not be aware of the risks. Concerned that more and more retail customers are offering and trading...more

Insider Trading and Related Risks for Executive Branch Employees: Pay Attention to the STOCK Act

As a new administration arrives in the nation’s capital amid heightened scrutiny over conflicts between government service and personal business interests, a little-used law — the Stop Trading on Congressional Knowledge Act...more

"President Trump Issues Executive Order Requiring Ethics Pledge"

On January 28, 2017, President Donald Trump signed an executive order titled “Ethics Commitments by Executive Branch Appointees” (the Order). This Order requires every full-time political appointee to sign an Ethics Pledge...more

The Sanctions Committees of the French Financial Regulators: Overview of the Activity in 2016

In 2016, the French financial regulators, the ACPR and the AMF, continued to pay particular attention to infringements in matters of anti-money laundering and anti-terrorism, internal control procedures, conflicts of interest...more

Changes in regulatory landscape for corporate finance service providers

Investment firms engaged in the provision of corporate finance services to issuer clients are facing some significant changes to their regulatory landscape. With the entry of MiFID II into effect from 3 January 2018,...more

Investment Management Legal + Regulatory Update – February 2017

REGULATION - DOL Issues Additional Guidance on Fiduciary Rule - On January 13, 2017, the U.S. Department of Labor (“DOL”) issued a second set of guidance on its new fiduciary rules, which are scheduled to become...more

Will missteps undercut public confidence in a new course on health care?

We’re dizzily trying to keep track of all the ways that the new administration is defying the best hopes that it will pursue a health care policy that is fair, open, responsive, and based in evidence, research, and...more

2016 Year-End Securities Litigation and Enforcement Highlights

Welcome to the 2016 Year-End Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. The purpose of this Report is to provide a periodic survey, apart from our team Executive...more

FINRA Is Ready to Lace-up and Focus on “Blocking and Tackling”: FINRA’s 2017 Priorities and Related Enforcement Actions

As the football season was winding down, on January 4, 2017, the Financial Industry Regulatory Authority (FINRA) published its 2017 Annual Regulatory and Examination Priorities Letter. According to FINRA President and CEO,...more

SEC's New Rule Requires Additional Disclosures on Form ADV

On January 12, 2017, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) published its 2017 examination priorities.1 OCIE’s 2017 priorities, which largely mirror its 2016 priorities, cover three areas: (1)...more

Your Daily Dose of Financial News

The Journal reported yesterday that more than 6,000 Wells Fargo branches were routinely tipped off to inspections by internal risk monitors, a practice that allowed the bank’s sham-account scandal to go undetected for years....more

2016 CFTC Year-in-Review and a Look Forward

In 2016, the Commodity Futures Trading Commission (CFTC or Commission) continued to pursue high-profile enforcement cases and to test its new enforcement authority under the Dodd-Frank Wall Street Reform and Consumer...more

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