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14 results found


Stinson LLP | USA | 17 Feb 2011

MSRB requests comments on a draft rule and interpretive notices for municipal advisors

The Municipal Securities Rule Making Board, or MSRB, is requesting comments on a draft rule and two interpretive notices applicable to municipal advisors.


Jorden Burt LLP | USA | 28 Jan 2011

SEC commissioners divide over fiduciary duty for broker-dealers

January 28, 2011-- Last Friday, the SEC delivered to Congress a 166-page study (available here) mandated by the Dodd-Frank reform legislation (the "Study") concerning the regulatory requirements that apply to investment advisers and broker-dealers when they provide personalized investment advice about securities to retail customers.


Morgan Lewis | USA | 28 Jan 2011

Analysis of the SEC Staff’s Study on Investment Advisers and Broker-Dealers

Late in the evening on Friday, January 21, the Securities and Exchange Commission (SEC) Staff released its Study on Investment Advisers and Broker-Dealers (the Study), which was required by Section 913 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act).


Baker Donelson Bearman Caldwell & Berkowitz PC | USA | 25 Jan 2011

SEC study recommends uniform fiduciary standard for broker-dealers and investment advisers

On January 21, the US Securities and Exchange Commission (SEC) released a study mandated under the Dodd-Frank Wall Street Reform and Consumer Protection Act.


Reinhart Boerner Van Deuren SC | USA | 11 Nov 2010

DOL issues proposed rule revising definition of the term fiduciary

On October 22, 2010, the DOL issued proposed rules under ERISA that would more broadly define the circumstances under which a person is considered to be a fiduciary by reason of giving investment advice to an employee benefit plan or a plan's participants.


Stikeman Elliott LLP | Canada | 30 Jul 2010

SEC requests public comment on obligations of investment advisers

On Tuesday, the U.S. Securities and Exchange Commission (SEC) published a request for public comment for a study.


Mayer Brown | USA | 14 Jun 2010

Fraud and forbearance: state courts divided on whether to recognize claims by securities holders

Two recent state appellate court cases demonstrate the division in the law regarding whether holders of securities can maintain a cause of action related to alleged fraud and negligent misrepresentation.


Katten Muchin Rosenman LLP | USA | 29 Jan 2010

CFTC chairman remarks on OTC derivatives reform

Commodity Futures Trading Commission Chairman Gary Gensler spoke on January 27 at Fordham University College of Business Administration regarding his belief that regulatory reform must be enacted to promote transparency and reduce risk in the over-the-counter (OTC) derivatives markets.


Eversheds Sutherland (US) LLP | USA | 30 Nov 2009

DOL opines that security interest in non-IRA brokerage assets to cover IRA indebtedness is a prohibited transaction

In Advisory Opinion 2009-03A (October 27, 2009), the U.S. Department of Labor (DOL) opined that the pledge of an IRA owner’s personal accounts at a brokerage firm to secure the payment of any debt or liability in his self-directed IRA maintained with that firm would violate the prohibited transaction rules of Internal Revenue Code 4975.


Alston & Bird LLP | USA | 17 Oct 2009

CFTC and SEC issue joint report on regulatory harmonization

On Friday, the Securities and Exchange Commission and the Commodity Futures Trading Commission issued a joint report on the harmonization of regulation between the two agencies.

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