Typically, in order to modify support or custody/parenting time provisions in an agreement or judgment/order, the party seeking a modification must show a substantial and continuing change of circumstances. Given the goal of...more
The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” fiduciary regulation (the 5-part test) and the amended exemptions continue in effect indefinitely. As a result,...more
The DOL’s fiduciary regulation was scheduled to become effective this September 23. The exemptions were scheduled to become partially effective this September 23 and fully effective September 23, 2025....more
Since the US Supreme Court decided Troxel v. Granville in 2000, grandparents have had an uphill battle obtaining grandparent visitation. While the New Jersey standard was set in Moriarty v. Bradt a few years later (a case...more
In Pennsylvania, custody determinations are decided in the child’s best interest. Parents may be able to resolve custody issues between themselves by way of negotiation and agree to a custody stipulation; however, if the...more
What has changed with the U.S. Department of Labor’s (DOL) final regulations and certain prohibited transaction exemptions (PTEs)? Is it really that bad even for plan sponsors, as we hear from the many critics of the DOL’s...more
The U.S. Department of Labor has released its package of proposed changes to the regulation defining fiduciary advice and to the exemptions for conflicts and compensation for investment recommendations to retirement plans,...more
Suitability in the sale of annuity products has been a topic of state regulation since at least 2003 - well before the federal focus on “Best Interest.” State insurance regulators have overseen the sale of annuities to ensure...more
The US Department of Labor has released its package of proposed changes to the regulation defining nondiscretionary fiduciary advice and to the exemptions for conflicts and compensation for investment recommendations to...more
The US Department of Labor has released its package of proposed changes to the regulation defining fiduciary advice and to the exemptions for conflicts and compensation for investment advice to plans, participants (including...more
On August 23, 2023, the Securities and Exchange Commission (SEC) adopted new rules and amendments under the Investment Advisers Act of 1940, as amended (the Advisers Act), that are expected to have a wide-ranging impact on...more
Regulators Hit Jackpot: Off-Channel Communications - Several years before announcing the first “off-channel” communications enforcement action, the SEC and FINRA cautioned broker-dealers and investment advisers about...more
UPDATE: On August 8, I posted this blog article in contemplation of the DOL sending a new fiduciary proposal package to the Office of Management & Budget (OMB) in the White House. One month later, to the day, the receipt of...more
On August 23, 2023, the Securities and Exchange Commission (the “SEC”) adopted new rules and rule amendments (collectively, the “Rules”) under the Investment Advisers Act of 1940, as amended (the “Investment Advisers Act”)...more
As if life is not confusing enough, we saw a precedential Superior Court custody case published on September 6, 2023 which speaks to the brave, new world of parenting. S.J. is born in April 2020. Mom was then...more
The DOL has not appealed the decision in the Florida Federal District Court that vacated its fiduciary “re-interpretation.” That re-interpretation, in effect, said that ongoing investment advice to a rollover IRA could be...more
For many years, the question of whether medical records could be used in an Arizona divorce case was settled – so long as the issues of parenting time and legal decision-making were in dispute, all medical records relevant to...more
Under Regulation Best Interest (Reg BI), the SEC imposes a best interest standard on account recommendations by broker-dealers. This is because recommending an account type is viewed by the SEC as recommending an investment...more
Let’s take a break from my SECURE 2.0 series of articles to discuss what is going on with the DOL’s fiduciary rule. As background, in the preamble to Prohibited Transaction Exemption (PTE) 2020-02, the DOL re-interpreted...more
Pennsylvania codified its custody laws in 1985 and at that time it drew a statutory distinction between decision making power (legal custody) and actual possession of the child (physical custody). In the 1980s there was a...more
You’re an entrepreneur, you form your first company, and suddenly you carry the title of founder, director, officer, and/or employee all at once. When running your business, it may feel like all of your roles blur together....more
As the “most ambitious legislative proposal since the inception of EU financial regulation”, the changes would make significant amendments to MiFID II and PRIIPs. On 24 May 2023, the European Commission (Commission)...more
On April 20, 2023, the Securities and Exchange Commission (SEC) released a Staff Bulletin (Bulletin) on the care obligations for broker-dealers and investment advisors, pursuant to Regulation Best Interest (Reg BI) and the...more
In a custody dispute between parents in an Arizona proceeding, if a parent has committed an act of “domestic violence” their right to have equal decision-making authority and unsupervised, or any, parenting time is at risk. ...more
When custody arrangements are in dispute and the parties cannot agree on a parenting plan, the trial court may order that a “parenting evaluator” be assigned to the case. The evaluator acts as a neutral, third-party who...more