The Department of Labor today issued its long-awaited re-proposal to regulate investment advice fiduciaries under the Employee Retirement Income Security Act.
The Office of the Comptroller of the Currency has adopted an interim final rule, effective immediately, to revise its short-term investment fund rule for national banks acting in a fiduciary capacity.
In response to the OCC’s advance notice of proposed rulemaking on fiduciary capacity and non-fiduciary custody activities, ABA today submitted a comment letter urging the agency not to proceed.
The Securities and Exchange Commission today finalized a rule implementing a “best interest” standard of conduct for broker-dealers when making recommendations on securities transactions or investment strategies to retail customers.
The OCC is issuing an advance notice of proposed rulemaking regarding the scope of activities that are fiduciary in nature, as well as the requirements of non-fiduciary custody activities of national banks, federal thrifts and federal branches of foreign banks.