Compliance Perspectives: Simplifying the Code of Conduct
Videocast: Asset management regulation in 2020 videocast series – The annuity regulatory landscape
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
The Securities and Exchange Commission in 2019 issued significant new rules and interpretations addressing the standards of conduct for broker-dealers, in the form of Regulation Best Interest, and the standards of conduct for...more
In a very unusual lawsuit, attorneys general from seven states and the District of Columbia recently sued the SEC, and its chair, Jay Clayton, for declaratory and injunctive relief seeking to block the effectiveness of...more
On March 29, 2018, the Certified Financial Planner Board of Standards, Inc. (the CFP Board) adopted a revised Code of Ethics (the Code) and Standards of Conduct (the Standards) that require a certified financial planner (CFP)...more
On the day that the SEC issued Regulation Best Interest (“Reg BI”), the long-awaited rule proscribing the standard of care that broker-dealers owe their clients, the SEC also issued an interpretation of the standard of care...more
As part of its “Reg BI Package”, approved on June 5, 2019, the Securities and Exchange Commission (the “SEC”) sought to clarify the fiduciary duty that an investment adviser owes to its clients under the Investment Advisers...more
On June 5, 2019, the Securities and Exchange Commission (SEC) voted to adopt a highly anticipated set of rules addressing the standard of conduct of registered investment advisers (RIAs) and broker-dealers aimed at increasing...more
On June 5, 2019, the US Securities and Exchange Commission adopted a comprehensive package of rulemakings and interpretations governing the standard of conduct applicable to broker-dealers and the fiduciary duty applicable to...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
On June 5, 2019, the Securities and Exchange Commission (the “SEC”) released a long-anticipated interpretation of investment adviser fiduciary duty under Section 206 of the US Investment Advisers Act of 1940 (“the Advisers...more
On June 5, 2019, the SEC issued an Interpretive Release designed to “reaffirm, and in some cases clarify, the standard of conduct that investment advisers owe to their clients.” The Interpretive Release highlights existing...more
New rule includes a heightened standard for broker-dealers, new required disclosures for investment advisers and broker-dealers and other guidance - On June 5, 2019, by a vote of 3-1, the SEC adopted Regulation Best...more
On June 5, 2019, the SEC published an interpretation of the standard of conduct for investment advisers under the Investment Advisers Act of 1940. The objective of the Proposed and Final Interpretations was to reaffirm and...more
As we previously blogged, on June 5, 2019, the SEC adopted Regulation Best Interest. The final regulation includes obligations relating to disclosure, care, conflicts of interest and compliance, which are each specific...more
On June 5, 2019, the Securities and Exchange Commission (SEC), led by Chairman Jay Clayton, voted 3 to 1 to approve the four agenda items that encompassed the “Reg BI Package.” These four items were Regulation Best Interest –...more
Last week, the Securities and Exchange Commission (SEC) voted to adopt what is popularly known as “Regulation Best Interest” (often referred to as “Reg BI”). Notwithstanding the name, Reg BI is actually a package of...more
On June 5, 2019, the Securities and Exchange Commission voted to adopt a package of rulemakings and interpretations, including (i) a new rule creating a standard of conduct for broker-dealers when recommending securities to...more
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