News & Analysis as of

Exclusions Fiduciary Duty

Warner Norcross + Judd

Final Fiduciary Rule — Part 3: Amendments to PTEs 84-24, 75-1, 77-4, 80-83, 83-1 and 86-128

Warner Norcross + Judd on

On April 25, 2024, the U.S. Department of Labor (DOL) released regulations redefining who is an investment advice fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code...more

Carlton Fields

Eighth Circuit Enforces Contract Liability Exclusions to Bar Contract Claims, Regardless of Non-Contractual Cause of Action in...

Carlton Fields on

The Eighth Circuit Court of Appeals recently decided a case, Russell v. Liberty Insurance Underwriters Inc., involving a dispute between the co-owners of a business and the widow of their deceased former partner....more

Kramer Levin Naftalis & Frankel LLP

Understanding the Newly Proposed Credit Fund Exclusion Under the Volcker Rule

Section 13 of the Bank Holding Company Act of 1956 (the BHC Act) generally prohibits any insured depository institution (as defined in Section 3(c) of the Federal Deposit Insurance Act, but excluding institutions that...more

Morris James LLP

Delaware Superior Court Limits Fraud Exclusion

Morris James LLP on

This is an important decision because it limits the use of the typical fraud exclusion in a D&O policy to avoid liability to the insured. The insured David Murdoch was found to have breached his fiduciary duty to Dole Foods...more

Proskauer Rose LLP

Private Investment Fund Managers and Other Investment Advisers May Be Affected by the U.S. Department of Labor’s New Fiduciary...

Proskauer Rose LLP on

On April 6, 2016, the U.S. Department of Labor (DOL) issued its highly anticipated final rule addressing when a person is considered to be a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) and the...more

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