News & Analysis as of

Investment Adviser Preemption

Burr & Forman

New Front in ESG Wars: Securities Industry Sues Missouri

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On August 10, 2023, the Securities Industry and Financial Markets Association (“SIFMA”) – a leading Wall Street industry association – filed suit to enjoin new Missouri regulations requiring investment advisors (“IA’s”) and...more

Goodwin

Federal Reserve Invites Public Comment on Proposed Principles for Large Banking Organizations to Manage Climate-Related Financial...

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Regulatory Developments - Federal Reserve Invites Public Comment on Proposed Principles for Large Banking Organizations to Manage Climate-Related Financial Risks - On December 2, the Federal Reserve announced that it...more

Allen Matkins

Claw Backs And Preemption

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Last week, the Securities and Exchange Commission announced that it was reopening the comment period on proposed rules for listing standards for the recovery of erroneously awarded compensation...more

Winstead PC

SEC Investment Advisers: Texas says “April Fools!” to Federal Preemption?

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On April 1, 2021, the Texas State Securities Board (TSSB) announced the entry of a Consent Order against an SEC registered investment adviser named Independent Financial Group, LLC (“Independent”). The TSSB’s action may...more

Goodwin

SEC Finalizes Reforms Under Investment Advisers Act

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In this Issue. The Securities and Exchange Commission (SEC) finalized reforms under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to solicitors, and published a risk...more

Dechert LLP

Massachusetts Moves Forward With Proposed Fiduciary Duty for Broker-Dealers and Investment Advisers

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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

Skadden, Arps, Slate, Meagher & Flom LLP

D.C. Circuit Upholds Federal Pay-to-Play Rule

On June 18, 2019, the U.S. Court of Appeals for the District of Columbia Circuit (the court) dismissed a challenge to Financial Industry Regulatory Authority (FINRA) pay-to-play Rule 2030 (the rule) brought by the New York...more

Allen Matkins

SEC Passes Preemption Question To The Courts

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Yesterday, the Securities and Exchange Commission approved Regulation Best Interest. According to the SEC's announcement, this new regulation will require brokers "to act in the best interest of a retail customer when making...more

Proskauer Rose LLP

ERISA Newsletter - Second Quarter 2018

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As we head into the thick of summer, all eyes are on President Trump's nomination to the U.S. Supreme Court to replace retiring Justice Anthony Kennedy and the impact the new Justice will have on shaping the law for...more

Allen Matkins

Will "Best Interest" Preempt Fiduciary Duties?

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Last month, the Securities and Exchange Commission proposed to established a standard of conduct for broker-dealers when making a recommendation of any securities transaction or investment strategy involving securities to a...more

Jones Day

The Pre-Emption Group Publishes Monitoring Report, European Capital Markets Update

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The Pre-Emption Group has released a monitoring report which looks at the implementation of the Statement of Principles and the template resolutions regarding disapplication published by the Group in May 2016. The Statement...more

Proskauer Rose LLP

ERISA Newsletter - Second Quarter 2017

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Editor's Overview - Welcome once again to Proskauer's newly revamped ERISA Newsletter. As a reminder, readers can obtain the information in this Newsletter as it is published on our blog. Our featured article this...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - November 2016

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This month we review a recent Second Circuit decision addressing ERISA plan status as a class member in a securities shareholder class action. As discussed in the article, the decision exposes a potential conflict among the...more

Goodwin

Financial Services Weekly News - June 2016 #5

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Regulatory Developments - FSOC Rescinds GE Capital's SIFI Designation - On June 29, the Financial Stability Oversight Council (FSOC) announced that it had voted unanimously to “rescind its determination that...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - April 2016

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Editor's Overview - This month we feature three key developments. First, we review the U.S. Supreme Court's decision in Gobeille v. Liberty Mut. Ins. Co., 136 S. Ct. 936, 947 (2016) wherein the Supreme Court held that a...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest - Volume X, Issue 22

In This Issue: - SEC Staff Releases Analysis Related to Pay Ratio Disclosure Rules - States Challenge Blue Sky Preemption Under Regulation A+ - FINRA Proposes Revised BrokerCheck Hyperlink Rule -...more

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