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.
- RIAs and Customer Identification Just as RIAs owe a duty to diligently protect their clients privacy and guard against theft, firms also play a vital role in customer identification. Although RIAs are not subject to an anti-money laundering rule, securities regulators expect advisors to address these issues in their policies and procedures.
The Securities and Exchange Commission has named Diane Blizzard associate director for regulatory policy and investment adviser regulation in the Division of Investment Management, replacing Robert Plaze, who is now deputy director of the division.
Blizzard will supervise two offices that develop recommendations for rulemaking and other policy initiatives under the Investment Company Act and the Investment Advisers Act.
Blizzard has been a member of the Division of Investment Management staff for 12 years, most recently serving as managing executive. She has previously held several policy roles, including senior advisor to the director and head of the Office of Regulatory Policy, one of the division’s rulemaking offices she will now lead. Earlier in her career, she was counsel to an affiliate of the Investment Company Institute.
“Diane is an accomplished lawyer and a skilled manager and I look forward to her continued leadership in her new role,” said Eileen Rominger, director of the SEC’s Division of Investment Management, in a statement.
“This is a great opportunity to work with Eileen Rominger and the talented division staff on advancing Chairman Schapiro’s investor-focused regulatory agenda,” Blizzard said.
Blizzard holds a bachelor’s degree from Duke University and received her law degree from Georgetown University.