The DOL Conflicts of Interest Rule and How it May Affect You (Part 2)
Who is an ERISA Fiduciary?
The DOL Conflicts of Interest Rule and How it May Affect You (Part 1)
The final adopting release of the Department of Labor’s (“DOL”) Conflicts of Interest rule (the “Rule”),1 along with the separate releases of two new and four amended prohibited transaction exemptions (“PTE”) are now published in the Federal Register as of April … Read More
New DOL Conflicts of Interest Rule Has Arrived
On April 6, 2016, the Department of Labor’s (“DOL”) proposed rule expanding the definition of the term “fiduciary” and addressing certain conflicts of interest was adopted and published (the “DOL Conflicts Rule”). While the final rule is not as extensive … Read More
Firm Pays $12 Million Fiduciary Obligation Violation
Earlier this week, the Securities and Exchange Commission (“SEC”) filed an enforcement action against BlackRock Advisors LLC for failing to fulfill its fiduciary duty. According to the SEC order, while managing energy-related funds at BlackRock, Daniel J. Rice III … Read More
Risk Management Update Profile – Identifying Conflicts of Interest for Broker-Dealers
At the end of each month, Core Compliance & Legal Services, Inc. (“Core Compliance”) publishes a Risk Management Update (RMU), an in-depth article written by one of our staff members on a current relevant topic in the compliance, securities and … Read More
Permanent SEC Registration Now Required for Municipal Advisors
In yet another move to pass a series of regulations required under the 2010 Dodd-Frank Act, the Securities and Exchange Commission (SEC) recently adopted a rule mandating the permanent registration of municipal advisors with the agency. Shortly after the passage … Read More
Senators Seek DOL Rule Delay to Mitigate Potential Conflict in Rules on Investment Advice
A delay in a new rule proposed by the Department of Labor (DOL) regarding investment advice for retirement plans is being pursued by a group of Democratic Senators, who argue that the proposed rule may clash with a prospective proposal … Read More
SEC Petitioned to Reign in Corporate Campaign Disclosures
A recent petition on the Securities and Exchange Commission (SEC) website has begun to bring light to a move by advocacy groups and others to force disclosures of corporate political campaign funds. Proponents seek the adoption of a rule by … Read More
Chief of SEC Enforcement Speaks About the Concerns and Initiatives of Private Fund Advisers
In a recent speech at the Private Equity International Conference in New York, Bruce Karpati, Chief of the Securities and Exchange Commission’s (“SEC”) Enforcement Division’s Asset Management Unit, addressed private equity enforcement concerns. While the SEC has not traditionally brought … Read More