Sentences with phrase «uniform fiduciary»

Signed by then - Governor Terry McAuliffe on February 02, 2017, HB 1608, or the Uniform Fiduciary Access Act, created the Uniform Fiduciary Access to Digital Assets Act which allows fiduciaries to manage digital property such as computer files, web domains, and virtual currency.

The draft Uniform Fiduciary Access to Digital Assets Act will have first reading at the meeting of the (U.S.) Uniform Law Commission next month.

The Drafting Committee of the Uniform Law Commission met on March 21 - 22, 2014, to consider a new draft of the Uniform Fiduciary Access to Digital Assets Act (FADA).

Laying Your Online Self to Rest: Evaluating the Uniform Fiduciary Access to Digital Assets Act University of Miami Law Review Haworth, Samantha D. 68 U. Miami L. Rev. 535 (2013 - 2014)

CFP board is working with the Financial Planning Coalition to urge the SEC to adopt a uniform fiduciary standard, for both investment advisers and broker - dealers, which is no less stringent than the existing fiduciary standard for investment advisers.

Wouldn't the adoption of a uniform fiduciary standard create additional costs for broker - dealers?

he Financial Planning Coalition to urge the SEC to adopt a uniform fiduciary standard, for both investment advisers and broker - dealers, which is no less stringent than the existing fiduciary standard for investment advisers.

Consumers are harmed by the absence of a uniform fiduciary standard that applies to all financial professionals who provide personalized investment advice, from paying excessive fees and commissions to receiving substandard performance.

Adoption of a uniform fiduciary standard will bring substantial practical benefits and additional investor protections for consumers of all incomes.

«For the uniform fiduciary standard to be effective, investors need to understand any material conflicts of interest» and «the staff believes it is the firm's responsibility — not the customers» to reasonably ensure such customer understanding.

Insurers, however, say broker - dealers and RIAs are more interested than ever in fee - based products as uniform fiduciary rules loom.

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.

Dodd - Frank authorizes the SEC to establish a uniform fiduciary standard which «shall be no less stringent than the standard applicable to investment advisers,» the Institute wrote in the comment letter.

Despite SIFMA's public statements that it supports a uniform fiduciary rule for all advisors, the Institute for the Fiduciary Standard believes that the brokerage industry group is really advocating a less stringent brokers -LSB-...]

Dale Brown, FSI president and CEO, remarked in a Friday statement that FSI «applauds the president's action, which will delay a rule with devastating consequences for so many people,» adding that FSI «stands ready to work with the president and his administration to put in place a uniform fiduciary standard that protects investors, while not denying quality, affordable financial advice to those who need it most.»

For the person that's fully commission - based, I don't think they'll exist because when the regulators finally decide that there's a uniform fiduciary standard for anyone dealing with the public, they'll be forced to adapt.

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.»

A uniform fiduciary rule crafted by the agency, however, will be business - model neutral, she said — a term that has had many in the advisory community scratching their heads.

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.»

«We support a new uniform fiduciary standard for everyone that's providing retail investment advice, and yet we have no idea exactly what that standard will look like.»

«There are a lot of very fine financial advisors out there, but there [are] also financial advisors who receive back - door payments or hidden fees for steering people into bad retirement investments that have high fees and low returns,» Obama said in his push for a uniform fiduciary rule.

The DOL proposal does not establish a uniform fiduciary standard for all retirement plan financial advisors.

While a uniform fiduciary standard would be disruptive to the retirement plan industry in the short - term, I believe it's in the best interest of all retirement plan stakeholders — participants, fiduciaries, and even financial advisors — in the long - term.

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.

«In a 2011 study, the SEC staff published its conclusion that «all financial advisers and stock brokers should be placed under a uniform fiduciary standard.»

Virginia House Bill 1608, the Uniform Fiduciary Access to Digital Assets Act, passed unanimously in the House on January 26, 2017, and the Senate on February 8, 2017, and was approved by Governor McAuliffe on February 17, 2017.

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.

Not exact matches

Repeal is necessary to remove the DOL from the process to ensure a uniform application of any new Fiduciary standard.

This week, President Obama made a speech in which he vocally supported the Department of Labor's new proposed fiduciary rule, which sets new uniform rules to ensure financial advisers always act with their clients» best interest in mind.

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.

For example: When the investments are subject to ERISA, Taft - Hartley Plans, held in a trust / endowment / foundation, when the investments are in an estate and the executor is making investment decisions, or when there is more than one investment manager acting in a fiduciary capacity under the Uniform Prudent Investor Act.

While some Canadians are starting to explore these questions, more work has been done in the United States, notably through the Uniform Law Commission's Drafting Committee on Fiduciary Access to Digital Assets.

The Uniform Act as drafted would apply only to fiduciaries whose appointments arise after the Act comes into force in the applicable state or from court proceedings begun after that date.

If the service providers have the US federal barriers in mind, or just come to look for statutory authority in the US Uniform Act, then Canadian fiduciaries may find it helpful to be able to point to a similar source of authority.

Mr. O'Brien's business litigation experience also includes claims for conversion, breach of fiduciary duty, fraud, unfair and deceptive trade practices, breach of contract, and violations of the Uniform Commercial Code.

Those cases run the gamut of business and commercial issues, including: breach of contract, covenants not to compete, tortious interference with contracts and business expectancies, shareholder disputes, partnership disputes, intellectual property, ERISA, Uniform Trade Secrets Act, breach of fiduciary duty, indemnification, civil conspiracy, financial disputes, business dissolution and other employment and related claims.

Her practice focuses on representing banks and other financial institutions in federal and state courts throughout the United States in cases involving trusts and fiduciaries, the Uniform Commercial Code, Fair Credit Reporting Act, Telephone Consumer Protection Act and mortgage foreclosures.

The work of the American Uniform Law Commission on fiduciary access to digital assets depends on a solid understanding of what digital assets are.