The Department of Labor has published a proposed rule that would amend the definition of “fiduciary” and would significantly expand the categories of persons who would be deemed to be fiduciaries subject to the Employee Retirement Income Security Act of … Read More
On October 20, 2010, long-awaited Department of Labor (DOL) rules were released in their final form. The new rules require plan fiduciaries, specifically the companies sponsoring 401(k) plans, to make detailed disclosures to plan participants. The rule officially takes effect … Read More
Currently, many “family offices” have been structured to take advantage of the exemption from registration under section 203(b)(3) of the Investment Advisers Act for any adviser that during the course of the preceding 12 months had fewer than 15 clients … Read More
As the regulatory and legal landscape applicable to the financial services industry continues to go through unprecedented changes, Core Compliance will stay on top of the latest developments and, through this page, provide updates and practical considerations for complying with … Read More
The Commodity Futures Trading Commission (“CFTC”) has released final rules to drastically revise the regulatory structure pertaining to off-exchange retail foreign exchange (Forex) transactions, which are set to take effect on October 18, 2010. The adoption of the new rules … Read More
The Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) includes significant changes to the registration and reporting requirements under the Investment Advisers Act of 1940 (the “Advisers Act”), including requiring many advisers to private funds to register … Read More
In July, the U.S. Securities & Exchange Commission (“SEC”) announced much-anticipated revisions to Form ADV Part 2 (the “Disclosure Brochure”), requiring investment advisers to provide clients and prospective clients with narrative, “Plain English” disclosures of the adviser’s business practices, investment … Read More