Skip to Main Content
Our Commitment to Diversity

Links to Regulatory Materials for Financial Professional Standards

Date: 31 July 2019
By: Richard F. Kerr, Pablo J. Man, Eden L. Rohrer, Andrew J. Shipe, C. D. Peterson, Andrew J. Shipe

At an Open Meeting on June 5, 2019, the Securities and Exchange Commission (“SEC”) formally adopted four regulatory measures intended to enhance the protection of retail investors while preserving existing investment industry business models and the ability of investors to choose among different types of providers. Specifically, the SEC adopted: (1) new Regulation Best Interest; (2) new Form CRS; (3) an interpretation of an investment adviser’s fiduciary duties; and (4) an interpretation of the “solely incidental” prong of the broker-dealer exclusion from the definition of an “investment adviser” under the Investment Advisers Act of 1940. The materials on this webpage include, among other things, links to the adopting and proposing releases for each of these actions, as well as to the related state initiatives that seek to impose different or heightened standards of conduct on investment advisers and broker-dealers.

SEC Adopting Releases

Press Releases, Statements, Speeches, and Other Materials

FINRA Materials

Notable State Initiatives

SEC Proposed Rules


Note

[1] See also Staff of the U.S. Securities and Exchange Commission, Study on Investment Advisers and Broker-Dealers As Required by Section 913 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Jan. 2011) (“913 Study”) at 8-12, available at www.sec.gov/news/studies/2011/913studyfinal.pdf (discussing the range of brokerage and dealer services provided by broker-dealers).

This publication/newsletter is for informational purposes and does not contain or convey legal advice. The information herein should not be used or relied upon in regard to any particular facts or circumstances without first consulting a lawyer. Any views expressed herein are those of the author(s) and not necessarily those of the law firm's clients.

Return to top of page

Email Disclaimer

We welcome your email, but please understand that if you are not already a client of K&L Gates LLP, we cannot represent you until we confirm that doing so would not create a conflict of interest and is otherwise consistent with the policies of our firm. Accordingly, please do not include any confidential information until we verify that the firm is in a position to represent you and our engagement is confirmed in a letter. Prior to that time, there is no assurance that information you send us will be maintained as confidential. Thank you for your consideration.

Accept Cancel