Investment Adviser

News & Analysis as of

What Employers Need To Know About the DOL Fiduciary Regulations

By now, you may have heard that the Department of Labor (DOL) has expanded fiduciary status for certain investment advisers to retirement plans or IRAs. Some of your providers are already fiduciaries, but some will now be...more

New Treasury Regulations Impose Heightened Standards for Retirement Fund Advisors

Financial advisors and financial services firms are facing new scrutiny, as indicated by a recent rule change by the U.S. Labor Department. In early April 2016, the U.S. Labor Department issued new regulations requiring that...more

DOL Fiduciary Regulations

The U.S. Department of Labor (DOL) earlier this month released final regulations which significantly expand the more than 40-year-old definition of who is a plan fiduciary under the Employee Retirement Income Security Act of...more

Legislation Amending Volcker Rule Passes in House

The Investor Clarity and Bank Parity Act (HR 4096) passed in the U.S. House of Representatives. The Volcker Rule adopted by the regulators limited the ability of bank holding companies and their affiliates, including...more

HALOS Act Passes Vote in U.S. House of Representatives

After a floor debate during which lawmakers on both sides of the aisle traded dueling press releases, the U.S. House of Representatives voted 325-89 in favor of the Helping Angels Lead Our Startups (HALOS) Act, on April 27,...more

DOL Finalizes The ERISA Fiduciary Regulation -- What It Means For Your Business

In the face of controversy and following thousands of comments from market participants and lawmakers, the Department of Labor (“DOL”) has finalized sweeping changes to the definition of “fiduciary” under the Employee...more

The DOL's New Fiduciary Rules for Retirement Investment Advice

After years of debate and speculation, the U.S. Department of Labor (DOL) issued its final package of rules to regulate individuals and entities that provide investment advice to retirement plans and IRA investors. The DOL’s...more

New PTEs Impact Broker’s and Advisor’s Relationship with Retirement Plans and IRAs and Also Impact Plan Sponsors and Fiduciaries

While only the plan service providers, like brokers, are required to comply with the requirements of the revised and new prohibited transaction class exemptions contained in the package with the definition of...more

The ERISA Litigation Newsletter - April 2016

Editor's Overview - This month we feature three key developments. First, we review the U.S. Supreme Court's decision in Gobeille v. Liberty Mut. Ins. Co., 136 S. Ct. 936, 947 (2016) wherein the Supreme Court held that a...more

U.S. Department of Labor Issues Final Rule Redefining ERISA’s Definition of “Fiduciary” for Certain Types of Investment Advice

On April 6th, the U.S. Department of Labor (DOL) released a final rule (the “Fiduciary Rule”) that expands the types of retirement investment advice that will be subject to the fiduciary duty rules of the Employee Retirement...more

New Fiduciary Rule & Its Impact on Retirement Advice for Plan Sponsors

After much controversy and criticism, the Department of Labor (DOL) issued a final conflict of interest rule on April 6th (the “Final Rule”) which expands the definition of a fiduciary for an “employee benefit plan,” as...more

"Labor Department Redefines ‘Fiduciary’ for ERISA and Internal Revenue Code Purposes"

On April 6, 2016, the Department of Labor (DOL) issued a widely anticipated final regulation that redefines who is a “fiduciary” of certain employee benefit and other plans for purposes of the Employee Retirement Income...more

“Best Interests” of Investors and Employees

Ima Knowitall, owner of All My Business Ideas (AMBI), just read the Wall Street Journal article on new Department of Labor (DOL) regulations and called her financial advisor, Phillip Coffers. Mindful of last fall’s Tilting...more

News Alert – Employer Action Required Following Issuance of Final Rule

On April 8, 2016, the Department of Labor (DOL) released the much anticipated final regulation to broaden the scope of fiduciary status under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal...more

This Week In Securities Litigation

The Commission prevailed at trial in a market manipulation case. The trial followed a series of settlements and a grant of summary judgment in the Commission’s favor as to one defendant. The remaining defendant, a former NFL...more

Education or Advice: The DOL Final Definition of Fiduciary; Conflict of Interest Rule

Earlier this month, the Department of Labor finally released the long-awaited “Definition of Fiduciary; Conflict of Interest Rule.” This blog post is intended to do two things...more

The Wait Is Over – the DOL Announces New Rules Impacting Broker Regulation

The Department of Labor recently enacted rules that require financial advisers and brokers handling individual retirement and 401(k) accounts to act in the best interests of their clients. The much-anticipated rules have...more

Much-Anticipated Fiduciary Rule Presents New Challenges to Financial Services Industry

The U.S. Department of Labor released its long anticipated "fiduciary rule" on April 6, 2016. The rule requires brokers and financial advisers to put their clients' interests ahead of their own when recommending retirement...more

DOL’s fiduciary rule levels playing field for advisors, imposes new duty on brokers

On April 6, 2016, the Department of Labor released the final version of its highly anticipated fiduciary rule. The rule is the culmination of six years of study, commentary and revisions after it was originally proposed in...more

Employer Action Required Following Issuance of Final Rule

On April 8, 2016, the Department of Labor (DOL) released the much anticipated final regulation to broaden the scope of fiduciary status under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal...more

Wisconsin Broker-Dealers Will Owe Fiduciary Duties for Retirement Investment Advice

Wisconsin is home to over 10,000 registered broker-dealers, all of whom currently operate without owing federally imposed fiduciary duties. Unlike some of their peers in other states, Wisconsin broker-dealers generally do not...more

U.S. Department of Labor Finalizes Fiduciary Definition and Conflict of Interest Rule

On April 6, 2015, the U.S. Department of Labor (Department) 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)...more

A Brave New World for Investment Advisors Following Issuance of Final Rule

On April 8, 2016, the Department of Labor (DOL) released the much anticipated final regulation to broaden the scope of fiduciary status under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal...more

What Does the Department of Labor's New Fiduciary Rule Mean?

The Department of Labor (DOL) has announced its highly anticipated final fiduciary rule, which is intended to help ensure that Americans saving for retirement get investment advice that is in their best...more

DOL issues final fiduciary rule and related exemptions

The final DOL fiduciary regulation (the Final Rule) and other guidance published by the DOL on April 8 will have a significant effect on those who provide investment advice and sell investment products and services to...more

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