News & Analysis as of

Trump Administration Broker-Dealer

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 33

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Skadden, Arps, Slate, Meagher & Flom LLP

2024 Post-Election Considerations for Inaugurations, Transitions, Special Elections and Personnel Entering or Leaving Government

Now that the 2024 election has passed, individuals and organizations must be mindful of special legal issues that arise from contributions made to, and expenses incurred for, federal, state or local inaugural or transition...more

Katten Muchin Rosenman LLP

Post-Election Shift: Securities Industry Anticipates Business-Friendly SEC Under Trump Administration

Post-election, securities industry professionals are pondering the new administration's impact on the regulatory environment and their businesses. While there is no sure outcome, many comfortably predict that under the Trump...more

WilmerHale

Trump Administration 2.0: How the SEC's Approach to Crypto Could Change

WilmerHale on

The election of Donald J. Trump as President could have a significant impact on the crypto industry given his campaign promise of a pro-crypto administration. President Trump will be able to appoint a new chair of the...more

Faegre Drinker Biddle & Reath LLP

Chair Gensler Overhauls PCAOB

On Friday June 4, 2021, Securities and Exchange Commission Chair Gary Gensler removed the head of the Public Company Accounting Oversight Board (PCAOB), an independent agency created by the Sarbanes-Oxley Act of 2002 that is...more

Groom Law Group, Chartered

New Regulation Best Interest FAQs Address Topics Familiar to DOL Fiduciary Rule Veterans

On January 10, 2020, the staff of the Securities and Exchange Commission (“SEC”) updated its frequently asked questions on Regulation Best Interest (the “FAQs”). ...more

Dechert LLP

U.S. Announces Second Round of Sanctions on Russia for Chemical Weapons Violations

Dechert LLP on

The U.S. State and Treasury Departments announced that a second round of sanctions will be imposed against Russia pursuant to the Chemical and Biological Weapons Control Act of 1991 (“CBW Act”). The most notable new measure...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Fiduciary Rule lives on

As referenced in the episode “The Foundation” from Seinfeld, Dr. McCoy did say at the end of Star Trek II after the death of Spock: “He’s really not dead, as long as remember him.” I feel the same way about the Department...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The New Fiduciary Rule is Dead, Jim

In a move that should shock no one, the Department of Labor (DOL) pretty much left the fiduciary rule to die by rolling over and effectively letting the rule die. The last deadline for resuscitating the fiduciary rule passed...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The DOL Rolls Over, Fiduciary Rule Effectively Dead

The Department of Labor (DOL) said it’s not going to pursue enforcement actions against investment advice fiduciaries “who are working diligently and in good faith to comply” with requirements of the fiduciary rule that was...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Fiduciary Rule is not dead, but extremely sleepy

So many are celebrating the ruling against the Department of Labor’s (DOL’s) fiduciary rule in the Fifth Circuit without realizing what that really means. A Federal appeals court in New Orleans doesn’t have an impact outside...more

Dechert LLP

ERISA's Fiduciary Rule - Dead Yet? Game Over? Maybe, Maybe Not . . .

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It has been a long and winding road for the amended fiduciary regulation (the "Regulation") and the related new and amended exemptions (collectively, the "Rule") of the U.S. Department of Labor (the "DOL") under the Employee...more

Proskauer - Employee Benefits & Executive...

Fifth Circuit Vacates DOL Fiduciary Rule

In a 2-1 decision, the U.S. Court of Appeals for the Fifth Circuit vacated the Department of Labor’s fiduciary rule, including the expanded definition of “investment advice fiduciary” and the associated exemptions. The...more

Pillsbury Winthrop Shaw Pittman LLP

DOL Again Delays Implementation of ERISA Fiduciary Rule

The department extends non-enforcement policy until July 1, 2019 and plans to propose a new streamlined class exemption under the Fiduciary rule. The DOL finalized its delay of certain portions of the Fiduciary rule until...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL kicks fiduciary rule enforcement until 2019

As expected, the Department of Labor (DOL) has delayed enforcement of the main provisions of the new fiduciary rule. Provisions covering exemptions for best-interest contracts and principal transactions will now go into...more

Bowditch & Dewey

Obama’s DOL Fiduciary Rule Fades into the Distance

Bowditch & Dewey on

If you have an account in a retirement plan where you work or you own an Individual Retirement Account, you may get financial advice about the assets in your account from an investment advisor, broker, planner, or insurance...more

Jackson Walker

The Department of Labor’s New Fiduciary Rule: Frequently Asked Questions for Private Fund Advisers

Jackson Walker on

Core elements of the U.S. Department of Labor’s controversial new fiduciary investment advice rule (the “Fiduciary Rule”) became effective on June 9, 2017, despite President Trump’s February 3, 2017 memorandum ordering...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - May 2017

In this edition of our Privacy and Cybersecurity Update, we take a look at the Trump administration's executive order outlining its cybersecurity plans, Acting FTC Chairwoman Maureen Ohlhausen's comments on the possible...more

Dechert LLP

ERISA's Fiduciary Rule – Not Dead Yet, Not Dead . . . Ever?

Dechert LLP on

It has been a long and winding road for the amended fiduciary regulation (the "Regulation") of the U.S. Department of Labor (the "DOL") under the Employee Retirement Income Security Act of 1974 ("ERISA"). The highly...more

Akin Gump Strauss Hauer & Feld LLP

DOL’s Fiduciary Rule to Become Partially Effective June 9, 2017

The Fiduciary Rule, which expands the circumstances under which providers of investment advice may be considered Employee Retirement Income Security Act of 1974 (ERISA) fiduciaries, was initially published in the Federal...more

Skadden, Arps, Slate, Meagher & Flom LLP

"DOL Finalizes Delay of Conflict of Interest Rule"

On April 4, 2017, the Department of Labor (DOL) released its final rule providing a 60-day delay of the April 10, 2017, applicability date of its conflict of interest regulation (the so-called fiduciary rule) and related...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Trump delays the fiduciary rule, but the broker-dealers lost

President Donald Trump delayed the implementation of the Department of Labor fiduciary rule by six months through a directive. While the delay is only for six months, Trump put enough hurdles that implementation of the new...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Change in Administration Presents Opportunity to Revisit DOL Fiduciary Rule"

In 2016, regulatory developments introduced fundamental changes in the legal standards that govern the relationship of broker-dealers with their customers. Although the changes are not applicable until April 10, 2017, most in...more

Katten Muchin Rosenman LLP

Bridging the Week - February 2017

Making Regulation Great Again: President Trump Requires Loss of Two Regulations for Every New One and Orders Review of All Financial Services Laws and Rules: Last week, through the issuance of two executive orders, President...more

Carlton Fields

Back to the Future: 2017 [Expect Focus Life Insurance – December 2016]

Carlton Fields on

- Should Your Company Purchase Bitcoin to Pay a Cyber Ransom? - NAIC Draws Line in CFPB Sandbox - NAIC’s Big Data Task Force Sets Charges for 2017 - Broker-Dealers Can Hold Customers’ Initial Checks ...more

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