What awaits Reg BI? Fiduciary Governance Blog • January 19, 2021 January 19, 2021 • News • Tags: Best Interest, SEC Gensler expected to put teeth in Reg BI — not overturn it A former chairman of the Commodities Futures Trading Commission, Gensler has a reputation as a tough regulator who will likely strengthen Reg BI. InvestmentNews
Additional states consider best interest standard for annuity sales George Michael Gerstein • January 5, 2021 January 5, 2021 • News • Tags: Best Interest, NAIC Momentum picks up for state-level best interest rule on annuity sales - RPA Convergence Arkansas and Michigan become the latest states to adopt the National Association of Insurance Commissioners model rule RPA Convergence
Stricter Reg BI exams for 2021? Fiduciary Governance Blog • December 22, 2020 December 22, 2020 • News • Tags: Best Interest, SEC SEC warns advisers of tougher Reg BI exams next year The SEC will ‘conduct enhanced transaction testing’ to see if firms are compying with Reg BI and acting in customers’ best interests. InvestmentNews
Scalia and Clayton outline investment advice framework George Michael Gerstein • December 21, 2020 December 21, 2020 • News • Tags: Best Interest, DOL, Fiduciary Duties, Fiduciary Rule, SEC Opinion | A Simple Framework for Financial Advice A new Labor Department rule dovetails with last year’s SEC guidance to ensure that individual investors receive recommendations that are in their best interest. WSJ
DOL finalizes investment advice rulemaking George Michael Gerstein • December 15, 2020 December 15, 2020 • News • Tags: Best Interest, DOL, ERISA, Fiduciary Duties, Fiduciary Rule Labor Department finalizes investment-advice exemption The Labor Department finalized a prohibited transaction exemption for investment-advice fiduciaries to get paid for more types of guidance. Pensions & Investments
John Baker quoted in Ignites regarding Biden’s SEC Plans and Impact on ESG, Proxies and Regulation Best Interest Fiduciary Governance Blog • November 13, 2020 November 11, 2020 • News • Tags: Advisers Act, Best Interest, Broker-Dealer, ESG, Proxy voting, SEC The full article can be found here.
Growing pains of Reg BI compliance Fiduciary Governance Blog • October 27, 2020 October 27, 2020 • News • Tags: Best Interest, SEC Reg BI compliance being met despite growing pains, regulators say Four months after the SEC's best-interest standard and Form CRS went into effect, firms are mostly meeting obligations but issues persist. Pensions & Investments
SEC announces roundtable on Reg BI/Form CRS Fiduciary Governance Blog • September 29, 2020 September 29, 2020 • News • Tags: Advisers Act, Best Interest, Broker-Dealer, Form CRS, SEC SEC Sets Date for Reg BI, Form CRS Roundtable | ThinkAdvisor SEC and FINRA staff will discuss “initial observations” of compliance with the best-interest rules. ThinkAdvisor
Chinese equities feel further political pinch George Michael Gerstein • August 19, 2020 August 19, 2020 • News • Tags: Best Interest, Fiduciary Duties Task force seeks tougher listing rules for Chinese companies Chinese companies listed on U.S. exchanges should have to follow tougher auditing rules and other listing standards, a report says. Pensions & Investments
Larry Stadulis discusses Reg BI enforcement Fiduciary Governance Blog • July 14, 2020 July 14, 2020 • News • Tags: Best Interest, SEC Reg BI debuts under cloud of uncertain enforcement The SEC's Reg BI has taken effect, but in light of the pandemic, how it will be enforced remains to be seen. Pensions & Investments
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