Reg BI, a new fiduciary rule proposal from the DOL and state-enacted fiduciary rules—what advisers should keep in mind.
The DOL is proposing a new prohibited transaction class exemption for investment advice fiduciaries.
The Democratic presidential candidate tells Department of Labor Secretary Scalia she fears the DOL is considering standards of conduct that would permit advisers providing advice on retirement savings to engage in conflicts of interest.
The group thinks the state should wait on the SEC’s Best Interest Standard and that its proposed statewide fiduciary rule would drive investors away from brokerage accounts.
Forty percent are waiting for further clarification, Fidelity learned in a survey.
The DOL said it is considering regulatory options in light of a 5th Circuit opinion vacating its previous fiduciary rule, and has on its timeline that a final rule will be issued in September of 2019.
A look at consolidation, the role of recordkeepers and the importance of financial wellness programs.
Form ADV includes a number of questions about the custody of client assets; these questions continue to be a source of widespread confusion and inconsistent interpretations in the asset management industry.
In addition, they say the definition of “best interest” is not clear.
They say that additional interpretation of standards of conduct for investment advisers is unnecessary and that imposing broker/dealer standards on life insurers and investment advisers is inappropriate.