The law firm Stradley Ronon has launched a Fiduciary Governance Group staffed with former Securities and Exchange Commission officials to help advisors and broker-dealers navigate the “multiple and conflicting” sets of fiduciary standards.
“Whether it’s complying with the Department of Labor fiduciary rule, a new Securities and Exchange Commission fiduciary standard, or emerging state investment advice laws,” the new group will guide financial institutions on handling the compliance risk in a “holistic fashion and, where possible, create harmonized procedures that satisfy multiple applicable fiduciary rules and standards,” said Stradley Ronon attorneys George Michael Gerstein and Larry Stadulis, the group’s co-chairs, in a Tuesday statement.
