The Department of Labor (DOL) has issued a new regulation defining fiduciary “investment advice” under the Employee Retirement Income Security Act of 1974 (ERISA), as amended, and Section 4975 of the Internal Revenue Code of...more
On Wednesday, the U.S. Court of Appeals for the Fifth Circuit (the “court”) held that the Securities and Exchange Commission (“Commission”) exceeded its statutory authority when it adopted the Private Fund Adviser Rules...more