Like many of our clients, we have been anxiously awaiting guidance from regulators on pooled employer plans, which may enter the retirement plan marketplace as soon as January 1, 2021. ...more
The SEC’s interpretation of the investment adviser standard of conduct appears to refine the contours of the fiduciary duty that investment advisers owe their clients under the Advisers Act, enhance disclosure obligations,...more
As Massachusetts steps up to the plate, New Jersey extends comment period and announces public hearing.
Just as the comment period on New Jersey’s fiduciary rule proposal came to a close, Massachusetts Secretary of State...more
The US Securities and Exchange Commission voted on June 5 to adopt its long-awaited rules governing retail advice. These new standards of conduct include the adoption of Regulation BI and Form CRS, as well as interpretive...more
This LawFlash outlines the key provisions in Nevada’s draft regulation and discusses, among other topics, when the regulation would be effective, when fiduciary duty would apply, and what conduct would be considered a...more
Memorandum does not delay applicability date—but is it enough for firms to stand down?
Anxiously awaited by many in the financial services industry, President Donald Trump has issued a memorandum ordering the Department...more
The election of Donald J. Trump to be the 45th president of the United States and Republican control of both congressional houses could have profound impacts on financial services regulation, including the fiduciary...more
Financial services firms with active recruiting programs should consider immediately how the DOL’s FAQs affect their compensation packages with respect to back-end recruitment awards.
To help the financial services...more
The guidance is the first of three waves of FAQs.
On October 27, the US Department of Labor (DOL) released a long-awaited frequently asked questions (FAQs) document regarding the fiduciary rule, as released on April 8,...more