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Best Interest Standard

Fox Rothschild LLP

Yes, Parties Can Agree to Waive the Change of Circumstances Standard

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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

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (45): The Regulation and Exemptions are Stayed (5)—What Remains?

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

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (44): The Regulation and Exemptions are Stayed (4)—What Remains?

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

Fox Rothschild LLP

Proving Psychological Parentage Not Required for Grandparent Visitation, But it Sure Does Help

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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

Tucker Arensberg, P.C.

How does Pennsylvania define and differentiate between Legal Custody and Physical Custody?

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

Ogletree, Deakins, Nash, Smoak & Stewart,...

How Has the DOL’s Fiduciary Rule Affected Plan Sponsors?

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

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (12): Advisors and Agents with Restricted Investment Menus (Part 1)

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

Bressler, Amery & Ross, P.C.

State Regulation of Annuity Suitability and the Best Interests

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

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (3): Fixed Indexed Annuities

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

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (1): An Overview

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

Lowenstein Sandler LLP

The SEC’s Private Fund Adviser Rules Explained — Part 3: Deciphering a Private Fund Manager’s Fiduciary Duty

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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

Carlton Fields

Expect Focus - Volume III, September 2023

Carlton Fields on

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

Faegre Drinker Biddle & Reath LLP

The DOL’s Regulatory Agenda and a New Fiduciary Rule - Update

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

Miller & Martin PLLC

SEC Adopts Private Fund Adviser Reforms

Miller & Martin PLLC on

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

Fox Rothschild LLP

“Hey Dad. Let Me Introduce You to My Other Dad.”

Fox Rothschild LLP on

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

Faegre Drinker Biddle & Reath LLP

The DOL’s Regulatory Agenda and a New Fiduciary Rule

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

Jaburg Wilk

Unrestricted Use of Medical Records in Arizona Divorces and Parenting Time Cases Has Changed

Jaburg Wilk on

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

Faegre Drinker Biddle & Reath LLP

The Best Interest Standard for Recommending Account Types

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

Faegre Drinker Biddle & Reath LLP

Rollovers, Regulation, Litigation: Where Are We and What’s Next?

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

Fox Rothschild LLP

If Custody Modification is “On the Table” so is Legal Custody

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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

Morrison & Foerster LLP

What Fiduciary Duties Do I Have as a Director of a Delaware Corporation?

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

Latham & Watkins LLP

European Commission Proposes Wide-Ranging Enhancements to Retail Investor Protection Rules

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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

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Staff Raises the Bar for Broker-Dealers Under Regulation Best Interest

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

Jaburg Wilk

How Acts of Domestic Violence Impact Child Custody

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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

Lasher Holzapfel Sperry & Ebberson PLLC

Parenting Evaluators and Quasi-Judicial Immunity

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

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