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Financial Professional Standards

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, our detailed analyses of each of the above items.

Thought Leadership

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23 July 2025
Navigating the One Big Beautiful Bill Act: Critical Updates to Clean Energy Credits
Alerts/Updates
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28 July 2025
European Union Adopts 18th Sanctions Package Against Russia
Alerts/Updates
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4 August 2025
DOJ Guidance Aims to Clarify "Illegal DEI," Raising the Stakes for Potential Investigations and Enforcement
Alerts/Updates
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29 July 2025
California Enacts Significant CEQA Reforms for Housing and Advanced Manufacturing Projects
Alerts/Updates
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