Fiduciary September, established in 2012 by the Institute, is the Institute’s annual month-long special recognition of the vital role of fiduciary duties for investors and the capital markets.
Institute president, Knut A. Rostad stated, “The SEC’s June 5th standards rulemaking keeps fiduciary center stage – just, not as intended. That is, not as accepted law, anyway. The sharp contrast between the SEC fiduciary concept today and established fiduciary legal thought and practice is clear for all to see. How else to explain the key differences with state securities officials, OCC bank regulations, investor advocates, legal scholars, adviser groups, unaligned policy experts and even investors themselves queried by the SEC. Scholars, advisers and, experts have much to discuss this Fiduciary September.”
TD Ameritrade Institutional, which provides custody services to more than 7,000 independent RIAs, is the exclusive sponsor of Fiduciary September.
“We’re proud once again to support Fiduciary September, which each year gathers leading voices to debate and discuss the importance of the fiduciary standard,” said Skip Schweiss, managing director of advisor advocacy & industry affairs at TD Ameritrade Institutional. “For more than a decade, we’ve been staunch advocates for independent RIAs and their client-first approach. The Institute and its programs deliver a valuable service by continuing to shine a spotlight on fiduciary principles.”
What is Reg BI? – September 23, 2019
Hosted by Pagnato Karp featuring Knut A. Rostad, Dan Moisand of Moisand Fitzgerald Tomayo, and moderated by Skip Schweiss of TD Ameritrade.
September 5 – Announcement of 2019 Fiduciary September Program
September 10 — 9:00 AM – 4:00 PM ET. Washington DC
Regaining Trust and Confidence in Finance. Knut Rostad to keynote Washington D.C. meeting. London based, Transparency Taskforce will meet September 10th in Washington. https://www.transparencytaskforce.org to discuss its initiative. The meeting,
September 16 — 11:00 AM – 2:00 PM ET. Boston University School of Law
“The Fiduciary Duties of Conflicted Trustees” by law professor John H. Langbein. The seminar, with a lunch and award program, will be held at Boston University School of Law,
Reserve your place. Contact [email protected] Please note if you are an advisor who will participate in the seminar or a student or friend of the Institute who wishes to observe.
September 23 — 5:00 PM – 6:00 PM ET. Webinar (Contact info to follow) For financial planning students. Join Dan Moisand of Moisand Fitzgerald Tamayo, Skip Schweiss of TD Ameritrade, and Knut Rostad on a presentation of the SEC’s Reg BI.
The SEC promulgated a rule on the standards of conduct for broker-dealers and investment advisers on June 5th. The rule aimed to address investor confusion over the roles of advisers and brokers, clarify the standard for advisers and raise the standard of brokers. Many investor advocates and adviser groups, state securities administrators and law professors have expressed major misgivings with the rulemaking. Many Wall Street firms and lobbyists have generally supported the rulemaking. Contact info to follow.
September 24 – 27 (TBA) — “The Worst of Both Worlds? Dual-Registered Investment Advisors”
Northeastern University finance professor, Nicole M. Boyson, will discuss her ground-breaking research, “The Worst of Both Worlds? Dual-Registered Investment Advisers.” The author concludes dual registrants have more conflicts and appear to charge retail clients higher fees than independent RIAs. Consumer Federation of America’s Micah Hauptman will join the discussion and highlight the impacts of her research on advisers and investors.