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Polsinelli

New Final Department of Labor Rules on Investment Advice are Immediately Challenged in Court

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The U.S. Department of Labor (“DOL”) recently issued final, new regulations (the “rules”) regarding who is considered an investment advice fiduciary that are slated to become generally effective on September 23, 2024, as well...more

A&O Shearman

Regulatory monitoring - March 2024

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1. Bank regulation- 1.1 Prudential regulation- (a) General- (i) International- BCBS: Basel III monitoring report- Status: Final- BCBS has published its latest monitoring report setting out the impact of the Basel III...more

Skadden, Arps, Slate, Meagher & Flom LLP

The New CCI Regulations: Changes to the UK PRIIPs Regime

Following a series of consultations, and as part of its wider overhaul of the UK’s financial services regime, in November 2023, the UK government published a draft statutory instrument that will replace existing European...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Capital Ratio: Roundup of Upcoming UK Regulatory Reforms for Financial Institutions

UK regulators have recently announced a number of reforms for banks and other financial institutions. - On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more

Cadwalader, Wickersham & Taft LLP

Political Agreement Reached on Proposed Directive Amending Both AIFM and UCITS Directives

On 20 July 2023, the Council of the EU announced that it has reached political agreement with the European Parliament on the proposed Directive amending the Alternative Investment Fund Managers Directive (2011/61/EU) and the...more

Proskauer Rose LLP

Regulation of Custodial Practices Under the Investment Advisers Act of 1940 Rule 206(4)-2: June 2022

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Background - A. Adoption in 1962 - The SEC has regulated custodial practices of investment advisers since 1962, when it first adopted rule 206(4)-2 (the “Custody Rule”) under the Investment Advisers Act of 1940...more

Proskauer Rose LLP

UK Financial Conduct Authority publishes its final policy statement setting out its final rules for the Investment Firms...

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On 26 November 2021, the UK Financial Conduct Authority (“FCA”) published its third policy statement (PS21/17) setting out its final rules to introduce its Investment Firms Prudential Regime (“IFPR”). ...more

Proskauer - Employee Benefits & Executive...

DOL’s Latest ESG Proposal: The More Things Change, the More They Stay the Same

On October 14, 2021, the U.S. Department of Labor’s Employee Benefits Security Administration (the “DOL”) published in the Federal Register a new proposed regulation (the “Proposed Rules”) on fiduciary responsibility in...more

Seyfarth Shaw LLP

DOL Fiduciary Rule Officially Dead

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For several years now we’ve been keeping you updated on the long and winding road of the Department of Labor’s (“DOL”) Fiduciary Rule....more

Skadden, Arps, Slate, Meagher & Flom LLP

Fifth Circuit Mandate Officially Ends DOL Fiduciary Rule

On June 21, 2018, the U.S. Court of Appeals for the Fifth Circuit issued its order, or mandate, putting into effect its earlier decision to vacate the Department of Labor’s (DOL) conflict of interest regulation (the fiduciary...more

Robinson+Cole ERISA Claim Defense Blog

Fifth Circuit Reaffirms Decision to Vacate Fiduciary Rule

The Department of Labor’s (“DOL”) conflict of interest rule, informally coined the “fiduciary rule,” sparked much debate when the regulations were proposed in 2015, and finalized in 2016, to expand the definition of fiduciary...more

Ballard Spahr LLP

Fifth Circuit Strikes Down DOL Investment Advice Fiduciary Rules

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The Fifth Circuit on March 15 vacated U.S. Department of Labor (DOL) regulations that redefined the circumstances in which a person who provides investment advice in connection with a retirement plan or individual retirement...more

Kramer Levin Naftalis & Frankel LLP

ERISA Fiduciary Rule Facing Precarious Future

Since its original release as a proposed rule in April 2015 and as a final rule a year later, the Department of Labor’s (DOL's) so-called fiduciary rule — which expands the “investment advice fiduciary” definition under the...more

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