On July 15, Virginia became the first state to adopt workplace safety regulations to address COVID-19, both to help curtail the spread of the virus and to drive sustained economic recovery throughout the Commonwealth. Other...more
In its Fall 2018 regulatory agenda, the Securities and Exchange Commission (“SEC”) announced that final rulemaking on the Best Interest Regulation is set for September 2019, before the close of the federal government’s fiscal...more
It’s official. The Department of Labor’s controversial, Obama-era Fiduciary Rule is dead and gone. On June 21, the United States Court of Appeals for the Fifth Circuit issued its mandate certifying its March 15 split decision...more
9/7/2018
/ Best Interest Contract Exemptions ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Investment Adviser ,
Investment Management ,
Motion for Reconsideration ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
Much has happened since we last reported on the Department of Labor’s Fiduciary Rule. The compliance deadline was extended 18 months to July 1, 2019. A federal appellate court vacated the Fiduciary Rule in its entirety. The...more
5/11/2018
/ Best Interest Contract Exemptions ,
Broker-Dealer ,
Code of Conduct ,
Conflicts of Interest ,
Consumer Financial Contracts ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Dodd-Frank ,
Fiduciary Rule ,
Governor Hogan ,
Investment Adviser ,
Investors ,
Proposed Rules ,
Public Comment ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Standard of Care
Morgan Stanley and UBS – two of the largest wirehouses in the United States – recently withdrew from the Protocol for Broker Recruiting Agreement, commonly referred to as the “Broker Protocol.” This move has raised much...more
The Defend Trade Secrets Act (“DTSA”), signed into law last year by President Obama, revolutionized intellectual property law by creating a new civil cause of action permitting trade secret owners to sue for misappropriation...more
There have been several attempts to kill the Fiduciary Rule in recent months. On June 8, The Financial Choice Act (H.R. 10), which overhauls the Dodd-Frank Act and in the process repeals the Fiduciary Rule, passed by a vote...more
On April 6, 2016, the U.S. Department of Labor released its long-awaited and controversial fiduciary rule expanding the definition of who is a fiduciary when providing investment advice on retirement accounts. The rule aims...more
4/13/2016
/ Best Interest Contract Exemptions ,
Best Interest Standard ,
Broker Commissions ,
Brokers ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Final Rules ,
Financial Adviser ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
IRS ,
Retirement Plan ,
Tax Penalties