Tag: Fiduciary

The DOL’s Fiduciary Race Ahead of 2021

There is precious little time remaining for the proposal and adoption of any new advisory industry conflict of interest rules that the DOL hopes to make effective during this presidential administration.

New York Trial Court Endorses Fiduciary Standard for Insurance Sales

New York’s expanded “best interest” standard took effect on August 1st for annuity contracts and will take effect February 1, 2020, for life insurance policies. In a new decision, the New York Supreme Court calls the expansion “a rational and reasonable movement towards consumer protection.”

A DOL Secretary Scalia Would Quickly Find Direction

Having served as the DOL Solicitor General under the Bush Administration, experts suggest, Eugene Scalia would likely hit the ground running as a Labor Secretary with a conservative agenda.

8th Circuit Sides with Defense in Stock Drop Appeal

The affirmation once again shows how influential has been the Supreme Court’s 2014 decision known as Fifth Third v. Dudenhoeffer. It also presents an interpretation of how Fifth Third interacts with another significant SCOTUS decision known as Tibble v. Edison.

An Important Point About Form CRS and SEC’s Reg BI

Under the SEC’s final regulations, Form CRS requires less prescribed wording relative to the proposed version, meaning firms may generally use their own wording to address required topics and will have more flexibility to provide information to investors.

Two Weeks Left to Comment on N.J. Fiduciary Rule

All eyes might be on the SEC’s pending vote on Regulation Best Interest, but ERISA attorneys with Stradley Ronon suggest New Jersey is now “the state to watch” for advisers and brokers tracking the development of conflict of interest regulations.

Neuberger Berman ERISA Complainants Get Another Chance

The text of the decision highlights that Federal Rule of Civil Procedure 15 provides that a court may permit a party to amend its pleadings “when justice so requires,” and absent special circumstances, such leave should be “freely given.”