By Tamar Frankel — This paper was presented as part of a conference on fiduciary law at Boston University on October 29, 2010.
Research
Comments on Definition of Fiduciary Proposed Rule
Disclosures and client consent are insufficient – by themselves – to satisfy the fiduciary standard.
The Specific Fiduciary Duties of Investment Advisers
Contrary to what some of the comments received by the DOL/EBSA suggest, fiduciary duties are neither too “ill-defined” nor “vague” to be applied to investment advisory activities.
Proposed Rule, Definition of the Term “Fiduciary”
Certain comments made by Kenneth E. Bentsen, Jr. of SIFMA before the U.S. Department of Labor hearing on the proposed definition of fiduciary regulation were either misleading and/or not relevant to the issues under consideration.
The Regulation of Brokers, Dealers, Advisors and Financial Planners
By Tamar Frankel — The SEC, authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act, should impose a fiduciary duty on all brokers (and similar financial professionals) who suggest specific securities to clients.
An Investment Adviser’s Fiduciary Duty
By Lorna A. Schnase — An investment adviser’s fiduciary duty derives primarily from common law and federal statutory law. There are two basic duties, those of care and loyalty. Some authorities list additional duties such as a duty of obedience, a duty to act in good faith, and a duty of disclosure.
