Sentences with phrase «agents as fiduciaries»

Not exact matches

The introductory clause is amended to reflect the June 9, 2017 applicability date of that section, as follows: «On or after June 9, 2017, if the insurance agent or broker, pension consultant, insurance company or investment company Principal Underwriter is a fiduciary within the meaning of ERISA section 3 (21)(A)(ii) or Code section 4975 (e)(3)(B) with respect to the assets involved in the transaction, the following conditions must be satisfied, with respect to the transaction to the extent they are applicable to the fiduciary's actions -LSB-.]»

Rhoades, for example, quotes the NASD (now FINRA), as saying «essentially a broker, or agent, is a fiduciary, and he thus stands in a position of trust and confidence with respect to his customer or principle.»

It requires advisors and agents to act as fiduciaries, make no misleading statements and accept only «reasonable» compensation.

It mandates that all who serve as fiduciaries — broker - dealers, investment advisors, insurance agents and the like — must act in the best interest of their clients.

Because an agent has a fiduciary responsibility to a client under agency law (not literary agency law, but laws governing anyone who calls themselves an agent [from insurance agent to real estate agent to literary agent]-RRB-, the agent must allow an audit if requested — at least in most state laws as I understand them.

The rule specifically defines fiduciaries as broker - dealers, investment advisers, insurance agents, plan consultants and other intermediaries to Employee Retirement Income Security Act (ERISA) plans and individual retirement accounts (IRAs).

I disagree that any agent working on behalf of a consumer has that requirement as part of their fiduciary.

CONSTRUCTIVE RECEIPT: Although a taxpayer does not have actual possession of the proceeds, they are legally entitled to the proceeds in some manner such as having the money held by an entity considered their agent or by someone having a fiduciary relationship with them.

The agent's fiduciary responsibility in this case is to treat the seller and buyer as equals and to not give one side better representation than the other, says Kent.

Will also defends financial advisors, stock brokers, insurance agents, appraisers and other professionals facing claims of negligence and fiduciary duty violations was well as restaurants, hotels and other retail establishments in premises liability litigation in state and federal courts.

Real estate brokers and agents: disputes relating to brokers, agents and their ethical, fiduciary and other common law disclosure and other obligations, as well as alleged breaches in civil actions and in ethics proceedings before state regulatory agencies

There have been a number of high profile cases involving fakes and forgeries and alleged breaches of fiduciary duties where excessive agents» commissions have been charged, and it is clear that collectors, as well as the professionals within art galleries and auction houses, are vulnerable to fraud or unethical practices.

John is also regularly instructed to appear in analogous cases in the High Court and County Court such as claims in which a purchaser seeks to enforce post-contractual restrictions against a vendor of a business; claims to enforce duties of confidentiality; claims in which a company to enforce a former director's fiduciary duties; and claims under the Commercial Agents (Council Directive) Regulations 1993.

We advise and represent professional fiduciaries and family members serving as conservators, guardians, personal representatives, trustees or agents under durable powers of attorney.

Some of the additional terms offered are various synonyms or related concepts such as officer, board, agent (for the director concept) or obligation, fiduciary relationship or trustee (for the fiduciary concept).

Funds held in trust include funds held in any fiduciary capacity in connection with a representation, whether as trustee, agent, guardian, executor or otherwise.

With no regulated fiduciary like a lawyer to rely upon as the protector of borrower information, US lenders are increasingly demanding that title agents obtain formal industry certification for their data security compliance.

Acting as a fiduciary, the agent plays a vital role in the success of the insurance company.

If the spouses do not wish you as the designated agent to disclose information or provide advice to the other spouse, then use a written service agreement to narrow the scope of your fiduciary duties.

They're also demanding a new type of «agent» — one who acts collaboratively and professionally and acts as a real estate advisor (a fiduciary!)

As your fiduciary, an agent is held by law to owe specific duties to his / her principal (person who they are representing).

A Connecticut court has considered whether a real estate licensee breached his fiduciary duty while serving as an escrow agent.

As an agent, you have a fiduciary requirement to do what's in the best interest of your client, the seller.

As their professional agent with associated fiduciary duty, I insisted on full disclosure, at least in some manner.

A real estate broker or salesperson, while acting as an agent for another, is a fiduciary.

In providing this information, neither KeyBank nor its affiliate are acting as your agent, broker, advisor, or fiduciary, or are offering any tax, accounting, or legal advice regarding these instruments or transactions.

The Alabama Supreme Court has ruled that a salesperson who acted as a dual agent for both the buyers and sellers in a transaction had a fiduciary duty to make accurate statements to buyers when questioned about a property.

A subagent owes the same fiduciary duties to the agent's customer as the agent does.

Yes, the landscape of fiduciary has changed since the old days of the early» 90's but the co-operative system we have worked so hard to build, our MLS system is just that... co-operative and that said, there is nothing wrong with providing feedback to the listing agent as they one day will be showing your listing.

Tom, if you are commenting as a buyer agent, I see your point, if as a listing agent, the fiduciary duty is to ensure you get the best price... it's that simple!

We trust that our agents, as proud members of CREA, will continue to exemplify the highest standards of ethical and fiduciary service to their clients.

The list of such dilemmas in this area is seemingly endless: As a seller's agent, telling buyers about a property's stigma without the sellers» permission could be a breach of fiduciary duty.

Remember if you are the listing agent or a subagent to the seller, your principal fiduciary duty is to the sellers, even if you are also working with the buyers as customers.

What neither the licensee nor her manager seemed to understand was that there had taken place a transposition from the role of an agent (with fiduciary duties) to a buyer (whose interest as a principal to the transaction were not compatible with the interests of the sellers).

I believe this is where the confusion is perhaps: «must act as agent» — equals «agency» — therefore by virtue of — equals fiduciary duty, equals responsibility, equals representation, equals liability.

In Moser v. Bertram, the Supreme Court of New Mexico addressed whether a listing agent, who worked for the same broker as the buyer's agent, owed fiduciary duties to the buyer.

Pennsylvania federal court rules that real estate brokerage did not owe fiduciary duties to seller when acting as a dual agent and so dismissed those claims against brokerage but allowed other claims made against brokerage to continue.

The court held that a broker's actions and words to a prospective purchaser may be sufficient to establish an agency relationship, and that a broker acting as an undisclosed dual agent may be held liable for breach of fiduciary duties and unfair dealing.

I disagree that any agent working on behalf of a consumer has that requirement as part of their fiduciary.

It also pointed out that the fiduciary duties continue when a broker, as an agent, enters into a contract with his principal.

On appeal, Letsos raised three issues, the first being that even though the Agreement had expired, Brusha and New West continued to act as his agent, and therefore still owed him fiduciary duties.

When I explain «fiduciary» to my clients I always say to them that when I am representing them as their agent I am «putting myself in their shoes».

The changes would allow one or more licensees to be designated as agents for a seller or buyer, rather than the current practice of all licensees within a brokerage firm owing fiduciary duty to the principal.

After all, as a sellers agent it is your fiduciary responsibility to get your seller client the best terms and conditions.

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When working as an agent of any sorts, for anyone you have a fiduciary responsibility to your respective client (s) to put their best interests ahead of your own.

When a real estate licensee acts as the escrow agent, the licensee has a fiduciary duty toward each party under the license law.

«Transaction broker» means a broker who provides limited representation to a buyer, a seller, or both, in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent.

Buyer agency is defined as follows: A principal agent relationship in which the broker is the agent for a buyer, with fiduciary responsibilities to the buyer.

«Single agent» means a broker who represents, as a fiduciary, either the buyer or seller but not both in the same transaction.