The SEC’s 2024 Examination Priorities: Impact on IRAs and Retirement Plans
Key Takeaways The SEC Division of Examinations is focused on advice to older investors and retirement investors. Advisors and their firms should review their practices for those investors. Among the concerns of the Division of Examinations is whether conflicts are adequately disclosed so that investors can provide informed consent. Off-the-shelf disclosures may not have sufficient […]
Investment Advisers: The Independent Duties of Care and Loyalty
Key Takeaways Recent SEC guidance has clarified that the investment adviser duties of care and loyalty are separate, independent duties. A reasonable interpretation of the SEC and Staff guidance is that the satisfaction of one will not satisfy the other–both must be individually satisfied. As a result, the SEC appears to be saying that, even […]
Best Interest Standard of Care for Advisors #17
Regulation Best Interest: Education vs. Recommendation (Rollovers Part 3) The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Regulation, RIA Interpretation and Solely Incidental Interpretation. I am discussing the SEC’s guidance in a series of articles entitled “Best Interest Standard of Care for Advisors.” In my last post, Best Interest for […]
Best Interest Standard of Care for Advisors #16
Regulation Best Interest: Education vs. Recommendation (Rollovers Part 2) The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Regulation, RIA Interpretation and Solely Incidental Interpretation. I am discussing the SEC’s guidance in a series of articles entitled “Best Interest Standard of Care for Advisors.” In my last post, Best Interest for […]
Best Interest Standard of Care for Advisors #10
Regulation Best Interest: The Focus on Costs (Part 2) The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Regulation, RIA Interpretation and Solely Incidental Interpretation. I am discussing the SEC’s guidance in a series of articles entitled “Best Interest Standard of Care for Advisors.” ______________________________________________________________________ The SEC’s Reg BI establishes a […]