The Department of Labor issued a final release (the “Final Release”) which (1) finalized changes to its 1975 rule defining when institutions and individuals are providing fiduciary “investment advice” to plans that are...more
5/9/2024
/ Broker-Dealer ,
Congressional Review Act ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Excise Tax ,
Exemptions ,
Fiduciary Rule ,
Individual Retirement Account (IRA) ,
Insurance Industry ,
Internal Revenue Code (IRC) ,
Investment ,
Investment Adviser ,
Policies and Procedures ,
Prohibited Transactions ,
Retirement Plan
The Department of Labor (“DOL”) on October 31, 2023—Halloween—issued a release (the “Release”) proposing to make changes to the 1975 rule (the “1975 Rule”) defining when institutions and individuals are providing fiduciary...more
11/3/2023
/ Banks ,
Broker-Dealer ,
Compliance ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary ,
Fiduciary Rule ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
Investment Management ,
IRS ,
Proposed Rules ,
QPAM ,
Retirement Plan ,
Robo-Advisors ,
Securities and Exchange Commission (SEC)
The U.S. Department of Labor (the “DOL”) on June 29, 2020 issued a release (the “Release”) proposing an important new initiative for retirement accounts (“Plans”) that are subject to the Employee Retirement Income Security...more
7/20/2020
/ 1975 Rule ,
Banks ,
Broker-Dealer ,
Brokers ,
Comment Period ,
Covered Transactions ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
Fiduciary Rule ,
Five-Part Test ,
Individual Retirement Account (IRA) ,
Insurance Industry ,
Investment Adviser ,
New Guidance ,
Prohibited Transactions ,
Proposed Rules ,
Public Comment ,
Regulation Best Interest ,
Retirement Plan ,
Rollover Equity
Massachusetts’ Secretary of the Commonwealth, William F. Galvin, caused the Securities Division to issue, on November 29, 2019, a revised proposed uniform standard of conduct for broker-dealers, investment advisers, and their...more
1/3/2020
/ Blue Sky Laws ,
Broker-Dealer ,
Conflicts of Interest ,
Duty of Loyalty ,
Federal v State Law Application ,
Fiduciary Duty ,
Investment Adviser ,
Preemption ,
Proposed Rules ,
Public Hearing ,
Registered Investment Advisors ,
Regulation Best Interest ,
Standard of Conduct ,
State Securities Regulators
The U.S. Securities and Exchange Commission, on June 5, 2019, voted 3-1 in favor of adopting a package of rules, amendments and interpretations (Final Rules) intended to improve the retail investor experience and to provide...more
6/12/2019
/ Best Interest Standard ,
Broker-Dealer ,
Compliance ,
Compliance Dates ,
Conflicts of Interest ,
Disclosure Requirements ,
Duty of Care ,
Duty of Loyalty ,
Fiduciary Duty ,
Form CRS ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
New Rules ,
Regulation Best Interest ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Standard of Conduct
The U.S. Department of Labor’s amended “investment advice” fiduciary rule need no longer ask for whom the bell tolls. It tolls for thee. So - ding dong, the rule is dead....more