On August 25, 2023, the Massachusetts Supreme Judicial Court upheld the validity of a rule promulgated in 2020 by the secretary of the commonwealth that imposes a broad fiduciary duty upon securities broker-dealers and their...more
More than 25 years have elapsed since the SEC adopted Exchange Act Rule 17a-4(f) governing electronic recordkeeping by broker-dealers. In an effort to update the rule to reflect “technology neutral” concepts, the SEC adopted...more
SEC Chair Gary Gensler closed out 2021 with remarks at a recent Institutional Limited Partners Association Summit, focusing on a number of issues facing private equity and hedge funds....more
On June 5, 2019, the SEC adopted a four-part regulatory package that includes: new Regulation Best Interest (Reg. BI), the related “Relationship Summary” disclosure form (Form CRS), and two interpretations of the Advisers...more
7/12/2019
/ Best Interest Standard ,
Broker-Dealer ,
Consumer Insurance Products ,
Disclosure Requirements ,
Duty of Care ,
Duty of Loyalty ,
Fiduciary Duty ,
Form CRS ,
Investment Adviser ,
Investment Management ,
Life Insurance ,
New Rules ,
Regulation Best Interest ,
Regulation BI ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Transactions ,
Standard of Conduct
On April 18, the SEC voted to propose major rule changes to reconcile and clarify the standards of conduct that apply to broker-dealers and investment advisers. ...more
7/5/2018
/ Best Interest Standard ,
Broker-Dealer ,
Churning ,
Conflicts of Interest ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Investment Adviser ,
Investment Products ,
Life Insurance ,
Regulatory Oversight ,
Regulatory Standards ,
Retail Investors ,
Securities and Exchange Commission (SEC)
EXPECTFOCUS® is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A.
...more
10/20/2017
/ Annuities ,
Best Interest Contract Exemptions ,
Big Data ,
Blockchain ,
Capital Raising ,
Conflicts of Interest ,
Cybersecurity ,
Data Security ,
Distributed Ledger Technology (DLT) ,
Elder Abuse ,
ETFs ,
Fiduciary Duty ,
Fiduciary Rule ,
Insurance Industry ,
Interest Rates ,
Investment ,
Investment Management ,
Life Insurance ,
NAIC ,
OCIE ,
Securities and Exchange Commission (SEC) ,
STOLI
- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial
- Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation
- On The Horizon: Global...more
10/31/2016
/ Administrative Proceedings ,
Annuities ,
Business Continuity Plans ,
CFTC ,
Class Action ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Data Protection ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
EU ,
European Economic Area (EEA) ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
FSB ,
Gartenberg Factors ,
Healthcare ,
Industry Examinations ,
Insurance Industry ,
Investment Companies ,
Life Insurance ,
Long Term Care Facilities ,
Long-Term Care ,
Meals-Gifts-and Entertainment Rules ,
Mutual Funds ,
NAIC ,
NYDFS ,
Passporting ,
Regulatory Oversight ,
Retirement Plan ,
RICO ,
Risk Assessment ,
Securities ,
Securities and Exchange Commission (SEC) ,
Solvency II ,
UK ,
UK Brexit ,
Unicorns
IN THE SPOTLIGHT -
The CFPB Takes First Enforcement Action Related to Data Security Practices.
LIFE INSURANCE -
Class Certified in Unique Fixed Indexed Annuity Case.
Alleged Misrepresentations to DFS Warrant...more
5/6/2016
/ Auto Insurance ,
Automotive Loans ,
Bad Faith ,
Class Action ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Data Security ,
Department of Justice (DOJ) ,
Derivatives ,
Fair Credit Reporting Act (FCRA) ,
False Claims Act (FCA) ,
FCC ,
Fiduciary Duty ,
Fixing America’s Surface Transportation Act (FAST Act) ,
Health Care Providers ,
Junk Bonds ,
Life Insurance ,
RESPA ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
SLUSA ,
Stark Law ,
TCPA ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Uninsured and Under-Insured Motorists ,
Waivers
In This Issue:
IN THE SPOTLIGHT -
- Your Data Breach Collided With My Personal Injury Coverage
LIFE INSURANCE -
- Phantom Injury Dooms “Shadow Insurance” Case
- Latest NAIC Cybersecurity News...more
10/8/2015
/ Administrative Law Judge (ALJ) ,
AIG ,
Auto Body Shop ,
Bailout ,
Banking Sector ,
Banks ,
Big Data ,
Breach Notification Rule ,
Class Action ,
Compliance ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
CT Supreme Court ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Security ,
Department of Labor (DOL) ,
Derivative Suit ,
Disclosure Requirements ,
Disparate Impact ,
EB-5 ,
Fair Housing Act (FHA) ,
FFIEC ,
Fiduciary Duty ,
Financial Institutions ,
Foreclosure ,
Healthcare ,
Insurance Industry ,
King v Burwell ,
Life Insurance ,
Mortgage Servicers ,
Mutual Funds ,
NAIC ,
Online Advertisements ,
Ransomware ,
Reassigned Phone Numbers ,
Regulation A ,
RI Supreme Court ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Standing ,
TCPA ,
Telecommunications ,
Treble Damages ,
Whistleblowers
In This Issue:
- IN THE SPOTLIGHT
• Risky Business: Common Cyber Security Risks, Expensive Consequences
- LIFE INSURANCE
• Ninth Circuit Finds Bonus Indexed Annuity Delivers Exactly...more
6/26/2015
/ Accounting Fraud ,
Annuities ,
Bad Faith ,
Broker-Dealer ,
Captive Insurance Company ,
Consumer Financial Contracts ,
Covered Business Method Patents ,
Cybersecurity ,
Debt Collection ,
Disability Benefits ,
Drones ,
Employee Retirement Income Security Act (ERISA) ,
Fair Lending ,
FCC ,
Fiduciary Duty ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
Insurance Litigation ,
Life Insurance ,
Mandatory Arbitration Clauses ,
Patents ,
RICO ,
SAR ,
Securities and Exchange Commission (SEC) ,
Telemedicine ,
Unmanned Aircraft Systems ,
Variable Annuities ,
Virtual Currency
In This Issue:
- IN THE SPOTLIGHT
..Standard CGL Policy Form Adds Data Breach Coverage Exclusion
- LIFE INSURANCE
..Class Claims Against Lincoln National Barred in Section 419 Action – Again
...more
9/30/2014
/ Accredited Investors ,
Affordable Care Act ,
Burwell v Hobby Lobby ,
Class Action ,
Commercial General Liability Policies ,
Consumer Financial Protection Bureau (CFPB) ,
Creditors ,
Cyber Insurance ,
Data Brokers ,
Debt Collection ,
DMCA ,
Enforcement Actions ,
ESOP ,
Fair Credit Reporting Act (FCRA) ,
Fiduciary Duty ,
Foreclosure ,
Fraud-on-the-Market ,
Hallmark ,
Investment Adviser ,
Judge Rakoff ,
Life Insurance ,
NAIC ,
Patent Litigation ,
Patent-Eligible Subject Matter ,
Patents ,
Pharmaceutical Industry ,
Proxy Advisors ,
Putative Class Actions ,
Religious Freedom Restoration Act (RFRA) ,
Securities and Exchange Commission (SEC) ,
Settlement ,
Strategic Enforcement Plan ,
Taco Bell ,
TCPA ,
Text Messages ,
Variable Annuities ,
Whistleblowers