More On Legal & Compliancefrom The Advisor's Professional Library
- Scope of the Fiduciary Duty Owed by Investment Advisors A fiduciary obligation goes beyond the suitability standard typically owed by registered representatives of broker-dealer firms to clients. The relationship is built on the premise that the advisor will always do the right thing for the person or entity receiving advice.
- Nothing but the Best Execution Along with the many other fiduciary obligations owed by RIAs, firms owe a duty to seek best execution of clients transactions. If they fail to do, RIAs violate Section 206 of the Investment Advisers Act.
Officials representing seven of the U.S. Department of Labor’s agencies—including the Employee Benefits Security Administration (EBSA)--will host live Web chats during the week of July 11 to discuss their respective regulatory agendas. These events will be open to the public
DOL’s collective regulatory agenda was made available on July 7 in the Federal Register.
To participate in the Web chats visit http://www.dol.gov/regulations/.
The various agencies’ web chat dates and times are as follows:
Monday, July 11
Office of Labor-Management Standards, 1–2 p.m. EDT
Occupational Safety and Health Administration, 2:30–3:30 p.m. EDT
Tuesday, July 12
Office of Federal Contract Compliance Programs, 1–2 p.m. EDT
Wednesday, July 13
Wage and Hour Division, 1–2 p.m. EDT
Thursday, July 14
Mine Safety and Health Administration, Noon–1 p.m. EDT
Employment and Training Administration, 1:30–2:30 p.m. EDT
Friday, July 15
Employee Benefits Security Administration, 2–3 p.m. EDT