Posts tagged fiduciary.
On February 9, the SEC proposed new cybersecurity risk management regulations for investment advisers, registered investment companies (funds), and business development companies.
Relying on the Commission’s mission to protect investors and ensure orderly markets, the Release cites increasing cybersecurity threats and emphasized the disruptive consequences and costs (to advisers, funds and investors) of unpreparedness. The Release grounds the Proposal in advisers’ fiduciary duty to clients and the anti-fraud “compliance rule” requiring written policies ...
Posted in: Cyber Security, SEC
Tags: cybersecurities policy, Cybersecurity, fiduciary, investment advisers, Investment companies, risk management, SEC
The Department of Labor ("DOL") released a controversial proposed rule on April 20, 2015, that seeks to expand fiduciary duties in the context of retirement-investment advice. Specifically, the proposed rule would rework a 1975 five-part test that greatly limits the fiduciary responsibilities of advisors for plans covered under the Employment Retirement Income Security Act ("ERISA"). The new fiduciary-duties standard proffered by the rule would require advisors to put the best interests of the client ahead of any profit motive, especially the incentives inherent to certain ...
Tags: DOL, fiduciary, fiduciary duties, Fiduciary Rule, finra, IRA, retirement-investment advice, SEC, Securities and Exchange Commission, The Department of Labor, The Financial Industry Regulatory Authority