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Department of Labor (DOL) Broker-Dealer Policies and Procedures

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - May 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Dechert LLP

Yet Another DOL Fiduciary Rule Released: Will the ‘Regular Basis’ of Prior Outcomes Follow ‘Suit’?

Dechert LLP on

The Department of Labor issued a final release (the “Final Release”) which (1) finalized changes to its 1975 rule defining when institutions and individuals are providing fiduciary “investment advice” to plans that are...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

You Might Want to Write Down Why You Recommended that Rollover

Since Regulation Best Interest’s (Reg BI) June 30, 2020 compliance date, the Division of Examinations of the Securities and Exchange Commissions (the Division) has been busy implementing examinations of broker-dealers to...more

Faegre Drinker Biddle & Reath LLP

Broker-Dealer Services to Plans and IRAs: Impact of the DOL Fiduciary Advice Exemption

The Department of Labor (DOL) confirmed on February 12 that the Trump-era Prohibited Transaction Exemption 2020-02 (PTE) would go into effect as scheduled on February 16, 2021. The PTE will likely affect the business of...more

Faegre Drinker Biddle & Reath LLP

Best Interest Standard of Care for Advisors #35

Broker-dealers and investment advisers are now governed by a best interest standard of care. Those standards are based largely on the same fiduciary principles that are incorporated into the ERISA prudent man standard. The...more

Faegre Drinker Biddle & Reath LLP

Comparing the DOL Proposal to the Broker-Dealer and RIA Standards of Conduct

Our recent blog post compared the SEC’s standard of conduct for broker-dealers under Regulation Best Interest (Reg BI) with the standard of conduct for registered investment advisers (RIAs) under the SEC’s Interpretation...more

Dechert LLP

Navigating the DOL’s New Fiduciary Rules: A Game Plan for Broker-Dealers

Dechert LLP on

This OnPoint focuses on the new and amended fiduciary investment advice regulations issued by the U.S. Department of Labor (DOL) and accompanying prohibited transaction exemptions (Final Rules), from the perspective of...more

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