Sentences with phrase «on fiduciary standards»

«I try to discuss concepts that may influence the debate on fiduciary standards and how financial planners should be regulated.

US SIF Comments on DOL Field Bulletin on the fiduciary standards under ERISA relating to proxy voting and shareholder engagement activities, and consideration of «economically targeted investments.»

They're already operating on a fiduciary standard.

«We have to make things easier for investors one way or another,» she said, but predicted more debate before any resolution on the fiduciary standard matter.

Over the last six months he said there has appeared «greater clarity» in how the SEC might rule on a fiduciary standard, and «it's not an optimistic picture.»

Main purpose: To educate financial advisors on the fiduciary standard, and to advocate for a bona fide fiduciary standard.

Not exact matches

«1) create a material positive impact on society and the environment, 2) expand fiduciary duty to require consideration of non-financial interests when making decisions, and 3) report on its overall social and environmental performance using recognized third party standards.»

The Department of Labor passed a new rule earlier this year requiring that financial advisors who work with clients on retirement plans abide by a fiduciary standard.

Advisers who presently are fiduciaries may be especially likely to fully satisfy the PTEs» Impartial Conduct Standards before January 1, 2018, in the ERISA - plan context, because advisers who make recommendations to plans and plan participants regarding plan assets, including recommendations on rollovers or distributions of plan assets, are already subject to standards of prudence and loyalty under ERISA and a violation of the Impartial Conduct Standards would be subject to claims for civil liability under ERISA.

After careful review and consideration of the comments, the Department is issuing this final rule that will (1) extend the applicability date of the Fiduciary Rule, the BIC Exemption, and the Principal Transactions Exemption for 60 days until June 9, 2017, and (2) require that fiduciaries relying on these exemptions for covered transactions adhere only to the «best interest» standard and the other Impartial Conduct Standards of these PTEs during a transition period from June 9, 2017, through January 1, 2018.

Applying the ratio of entities that meet the SBA size standards to the number of affected entities, based on the methodology described at greater length in the RIA of the Fiduciary Rule, the Department estimates that the number of small entities affected by this final rule is 2,438 BDs, 16,521 Registered Investment Advisors, 496 insurers, and 3,358 other ERISA service providers.

Finally, because the Impartial Conduct Standards will become applicable on June 9, 2017, the Department believes that firms will make efforts to adhere to those standards, motivated both by their applicability and by the prospect of their likely continuation, as well as by the impending applicability of complementary consumer protections and / or enforcement mechanisms beginning on January 1, 2018, depending on the results of the Department's review of the Fiduciary Rule pursuant to the President's Memorandum.

Americans for Annuity Protection has engaged in active outreach to leaders of influence to establish the argument that the DOL's fiduciary rule should be returned because of the analysis performed by the department is flawed, inconclusive and arbitrary; it is not compatible with the Uniform Security Law or established insurance law, and the law has potential conflict with the Dodd - Frank requirements to the Securities and Exchange Commission (SEC) on reviewing a uniform fiduciary standard.

If the fiduciary standard is imposed on financial advisors, how might that affect the annuity market?

But even on that benchmark their interpretations vary — evidence, perhaps, of the depth and complexity of the legal questions raised with the finalization of the Labor Department's new fiduciary standard.

Most of the coverage of the SEC's recent proposal to replace the Department of Labor's Fiduciary Rule has focused on the different standards for brokers vs. advisors and the shortcomings of a disclosure - based approach to regulation.

In the U.S., recent 401 (k) rule changes have imposed a fiduciary standard on employers.

In 2011, the Securities and Exchange Commission published a report titled «Study on Investment Advisers and Broker - Dealers,» which recommended that ALL financial advisers be subject to a uniform fiduciary standard.

That means they can recommend funds based on commissions, not prudence — the standard by which 401 (k) fiduciaries must select funds.

Second, DOL «then offers an exemption from this far - reaching prohibition — known as the best interest contract exemption (or «BIC» exemption)-- but conditions it on financial services firms and insurance institutions agreeing to subject themselves to fiduciary standards of conduct in contracts that they must enter into with their customers, as well as a range of other restrictions and requirements.»

If the fiduciary standard, under Dodd - Frank, is imposed on Series 7 registered representatives, how might that change the annuity industry?

Dale Brown, FSI's president and CEO, stated on the call that FSI, as well as the other groups joining the suit, «has supported a uniform fiduciary standard since 2009 — before Dodd - Frank became law... but the Department of Labor's complex and unworkable rule will only harm the smaller investors it claims to protect.»

If the fiduciary standard under Dodd - Frank is imposed on Series 7 registered representatives, Fisher said «it would kill the sales of annuities by commissioned salespeople.»

Borzi, assistant secretary of the DOL's Employee Benefits Security Administration and chief architect of the fiduciary redraft, told Investment Advisor in an exclusive interview in mid-March that while brokerage industry trade groups have been prodding the DOL and SEC to collaborate on their fiduciary rules so that they end up with «one fiduciary standard,» having identical rules just isn't possible.

Despite that distinction, President Barack Obama is one of her biggest fans: In his speech last year pushing the Department of Labor to press on with its fiduciary standard rule, he pointed out Garrett by name as an FA who puts the best interests of her clients first.

While the SEC considers whether to extend a fiduciary duty to all advice givers, and the Department of Labor forges ahead on its revised definition of fiduciary, HighTower has moved ahead on its own, wrapping a strict fiduciary standard into a business model that meets client needs while giving top Wall Street brokers an innovative home from which to serve those clients and grow their individual businesses.

The new Department of Labor fiduciary standard represents «the most dramatic regulatory change in a number of decades, suffice to say,» explained Scott Curtis, head of Raymond James» independent advisor channel, in an interview on Tuesday.

Rostad said that research from the GAO draws a picture showing that not only are «many, many investors -LSB-...] not being treated with a fiduciary standard, it's worse: there's not even a suitability standard being met» in providing advice on retirement plans.

Tolerance is good, but apply it to the situation on how advisors are handling clients -LSB-...] deviating from the fiduciary standard.

White announced in a late March speech that «in order to more fully inform the commission's decision on this matter,» she had directed SEC staff to compile a list of all those options, including, she said, «a uniform fiduciary standard for broker - dealers and investment advisors when dealing with retail customers, and other measures that may be more targeted and achievable in the shorter term.»

That's why we've included on this year's list the SEC's enforcement chief, Andrew Ceresney, Labor Secretary Thomas Perez, the Institute for the Fiduciary Standard's Knut Rostad, consumer advocate Barbara Roper, securities attorney Tom Giachetti and the aforementioned Mr. Schweiss.

According to Fitch, it's pretty much everybody, from insurance agents and broker / dealers on over to registered investment advisors (RIAs) already under the fiduciary standard.

Question: Will the fiduciary standard for brokers compel employers that offer salary reduction retirement savings plans ie 401 (k), 457 (b), 403 (b) to make sure that no - load / de minimis cost investment funds are on the plan's investment menu?

The first order of business should be to place a higher priority on defining the «Prudent Man» standard underpinning the Fiduciary Duty of Care.

In the third FAQ, we humbly suggest the DOL provide guidance on exactly how advisers apply proper due diligence and meet the fiduciary standard when making investment recommendations.

What CFA is also forgetting is that the DOL Fiduciary Rule and impartial conduct standards no longer permit a «sales - driven relationship,» and the very requirements of the fiduciary duty are trust and reliance on the fact that the customer's interests always coFiduciary Rule and impartial conduct standards no longer permit a «sales - driven relationship,» and the very requirements of the fiduciary duty are trust and reliance on the fact that the customer's interests always cofiduciary duty are trust and reliance on the fact that the customer's interests always come first.

The debate over the rule has shined a spotlight on the importance of the fiduciary standard and could lead to an exodus of clients away from advisors and brokers that choose not to meet it.

On Tuesday (11/22/16), MarketWatch featured our op / ed on why the Fiduciary standard of service is here to stay no matter what the official rules arOn Tuesday (11/22/16), MarketWatch featured our op / ed on why the Fiduciary standard of service is here to stay no matter what the official rules aron why the Fiduciary standard of service is here to stay no matter what the official rules are.

On Tuesday (11/22/16), WealthManagement.com featured our op / ed on why the Fiduciary standard of service is here to stay no matter what Trump doeOn Tuesday (11/22/16), WealthManagement.com featured our op / ed on why the Fiduciary standard of service is here to stay no matter what Trump doeon why the Fiduciary standard of service is here to stay no matter what Trump does.

From that initial focus on financial planning, we expanded our efforts to include holding brokers to a fiduciary standard when they hold themselves out as advisers or as providing financial planning, which had become quite common by the 1990s.

Boston University professor of law and Michaels Faculty Research Scholar, Tamar Frankel, a national authority on fiduciary law, points out, «A uniform standard must be uniform in all aspects.

SEC Chair Mary Jo White's recent statement that the SEC should proceed with rule - making on a uniform fiduciary standard focuses attention on what such a rule may entail.

On September 27, 2017, the Institute for the Fiduciary Standard awarded the 2017 Frankel Fiduciary Prize to Barbara Roper, Director of Investor Protection for the Consumer Federation of America.

FN: The Consumer Federation of America (CFA) has been on the vanguard of promoting fiduciary standards.

In a panel discussion co-hosted by the Cato Institute and the Institute for the Fiduciary Standard, Rhoades highlighted the idea that when an investor relies on a professional's personalized advice, they enter -LSB-...]

The proposals have been in the pipeline for a while, and were released amid growing uncertainty that the Department of Labor's (DoL) own rule, the fiduciary standard rule, which applies only to retirement brokers, will be stricken from the records on the May 8.

Similar to the Department of Labor fiduciary rule, the NAIC model would place limits on agent compensation, require more disclosures and set a «best interest» standard.

Oct. 2 — Maria Elena (Mel) Lagomasino, CEO of WE Family Offices and a founder of the Institute for the Fiduciary Standard, recently spoke to the Financial Times in their London office on her native Cuba, the investment industry and the work of the Institute.

I applaud The Institute for the Fiduciary Standard in its effort to help investors understand who's on their side and who isn't.

The editorial shines a bright light on arguments against the fiduciary standard that the brokerage industry, understandably, tries to keep under wraps.