David F. Johnson and Andrew Rosell presented “Fiduciary Duties Applicable to Registered Investment Advisors and Broker/Dealers” to the DFW Compliance Roundtable on February 10, 2016. The DFW Compliance Roundtable is a group of compliance officers, in-house counsel and private practice professionals that work with and for registered investment advisers, broker/dealers and others in the industry. Fiduciary duties in this context are a hot topic right now as the Department of Labor is about to institute a uniform fiduciary rule that would apply the same fiduciary duties for investment advisers, broker/dealers, insurance agents, and other financial advisors that provide advice to retirement funds and IRAs that are controlled by ERISA. Similarly, the SEC is also contemplating instituting a uniform fiduciary rule. These new uniform rules would change the current practice as generally only investment advisers owe fiduciary duties.
Click here for presentation materials: “Fiduciary Duties Applicable to Registered Investment Advisors and Broker/Dealers”