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Posts in Investment Adviser Law
RISK ALERT: DOE Shares Results of Marketing Rule Exams.

IA Advertising: SEC’s DOE wants advisers to see the forest AND the trees – review those ads at least twice and from more than one angle.  Recent exams results warn advisers not to use advertisements that are (i) materially misleading, (ii) not fair and balanced and/or (iii) including facts that can’t be substantiated.  

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Investment Advisers: Have You Reviewed Your Fees and Billing Practices?

Following a recent review of 130 Investment Advisers, the SEC’s Division of Examinations cited numerous deficiencies and warned of “financial harm to clients”. Our article identifies the most common flaws noted in the DOE’s latest Risk Alert.

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Regulation BI: A Clarification for Investment Advisers or an Enhanced Standard of Conduct?

While the  SEC thinks that it clarified Reg BI with its recently published, 42-page interpretation, we think that it raised questions for investment advisers that could force them to upgrade their policies, procedures, and compliance programs. 

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Supreme Court Makes It Easier to Sue for Fiduciary Breach: Intel Corp v Sulyma

Can plan fiduciaries prove that participants read the required disclosures about investments? The Supreme Court weighed in on the issue of “actual knowledge” of a plan participant.

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Does the SEC Expect Investment Advisers to Make a Sweeping Compliance Upgrade?

The SEC thinks that it “clarified” Reg BI when it published a new 42-page interpretation. But to us, it looks like investment advisers may need to make a wholesale upgrade of compliance programs. Read more…

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