The fiduciary standard of care required by investment advisers is well established and is a major component of every client relationship. Investment advisers are tasked with the financial health of their clients and safe keeping of nest eggs built over … Read More
The Employee Retirement Income Security Act of 1974, as amended (“ERISA”), contains provisions that restrict fiduciaries to retirement plans from engaging in certain activities. These prohibited activities include, among other things, self-dealing, implementing principal transactions, and receiving compensation from third … Read More
Almost 12 years have passed since Bernie Madoff was sentenced to 150 years in prison with a restitution of $170 billion for perpetrating an elaborate Ponzi scheme that harmed thousands of clients. Widely regarded as the largest fraudulent investment scandal … Read More
[UPDATE] On June 21st, 2018: The U.S. Court of Appeals for the Fifth Circuit issued a mandate today that vacated the DOL Fiduciary Rule. With over 20% of the U.S. population projected to be over the age of 65 … Read More
The SEC has released its 2018 examination priorities, and the focus on, and protection of, aging clients, and considerations related to such clients (as a subset of retail investors generally), is a continuing theme.
In April, Craig Watanabe, Sr. Compliance Consultant at Core Compliance & Legal Services, Inc. (“CCLS”), hosted an informative webinar, “SEC Expectations for Managing Retirement Accounts.” During the presentation, he discussed important considerations for the now delayed DOL Conflicts of Interest … Read More
The fate of the Department of Labor’s (“DOL”) Conflicts of Interest rule (the “DOL Rule”) is uncertain. However, regardless of whether the rule gets delayed or repealed, the Securities and Exchange Commission (“SEC”) continues to focus on the services being … Read More