Regulatory Alerts2018-05-09 | 2018-08679Added · Updated
Proposed Commission Interpretation Regarding Standard of Conduct for Investment Advisers; Request for Comment on Enhancing Investment Adviser Regulation
The Securities and Exchange Commission proposes an interpretation of the fiduciary standard of conduct for investment advisers under the Investment Advisers Act of 1940. The document outlines the duty of care and duty of loyalty required to act in clients' best interests, while also requesting public comment on potential regulatory enhancements. These enhancements include proposals for federal licensing and continuing education requirements, mandatory delivery of account statements, and financial responsibility standards for registered advisers.
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