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Fiduciary Duty North American Securities Administrators Association

Carlton Fields

NASAA Report on BD Compliance With Reg BI: Finds Progress, but Specifies Work To Be Done

Carlton Fields on

A September report of the North American Securities Administrators Association (NASAA) on broker-dealer compliance with the SEC’s Regulation Best Interest (Reg BI) finds...more

Kilpatrick

Massachusetts Adopts Amendments to its Fiduciary Rule Part II The Massachusetts Fiduciary Rule and Reg BI

Kilpatrick on

On February 21, 2020, the Massachusetts Securities Division (the “MSD”) announced the finalization of its fiduciary rule. Part I summarized the evolution of Massachusetts Fiduciary Rule (“Fiduciary Rule”) and the...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on the Senior Safe Act, Legacy Swaps and the FINRA Code of Arbitration

BROKER-DEALER - SEC Adopts Rules and Interpretations To Enhance Protections and Preserve Choice for Retail Investors - On June 5, the Securities and Exchange Commission voted to adopt a package of rules and...more

Kilpatrick

Industry Groups and State and Federal Securities Regulators Grapple with Fiduciary Standards for BDs and Private Fund Advisers

Kilpatrick on

Last April, the SEC released proposed rules related to the standard of care that broker-dealers (“BDs”) owe their customers and issued proposed guidance related to the standard of care that investment advisers (“IAs”) owe...more

Allen Matkins

Will Regulation "Best Interest" Preempt State Law?

Allen Matkins on

Yesterday's post concerned possible arguments that federal law preempts Nevada's fiduciary standard for broker-dealers. At present, any preemption would have to be based on the National Securities Markets Improvement Act...more

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