Our national Best Interest Compliance Team assists clients with the evolving and overlapping federal and state regulations related to the standard of care for broker-dealers, investment advisers, and insurance companies, agents and brokers.
The interdisciplinary group of more than 20 lawyers consists of attorneys from the firm’s Investment Management, ERISA, SEC and Regulatory Enforcement Defense, Litigation/FINRA Arbitration, and Insurance Regulatory and Transactional practice areas. The team includes experienced litigators, legislative professionals, compliance supervisors and former regulators.
We actively assist investment managers, broker-dealers, registered investment advisers, retirement plan/IRA service providers and insurance companies with the challenges resulting from the ever-changing regulations from the SEC, FINRA, the Department of Labor and state agencies related to fiduciary requirements and best interest duties.
Our experience with best interest compliance and reporting obligations includes strengthening supervisory procedures and internal controls, and determining whether compliance policies and procedures are implemented as written. Our lawyers draft agreements, disclosure documents and Written Supervisory Procedures to assist with the implementation of the anticipated new standard of care, and supervision of that standard. We also advise clients on the development of products and services that are consistent with ERISA’s fiduciary standards and prohibited transaction restrictions, including retirement income investments and guaranties.
We represent clients involved in investigations and enforcement matters before agencies such as the SEC, the Department of Labor, the IRS, FINRA and other self-regulatory or state agencies. Our lawyers also provide independent assessments of risk management and supervisory frameworks, and overall compliance policies and procedures related to conflicts of interest, breaches of fiduciary duty and securities law violations. In addition, our lawyers represent broker-dealers, investment advisers, insurance companies and other financial services entities in litigation and arbitration matters on standards of care and conflicts of interest.
Through articles, webinars, audiocasts and white papers, our Best Interest Compliance Team also provides investment advisers, brokers, insurance representatives and others with counsel and information to stay ahead of directives from the SEC, FINRA, the Department of Labor and other regulatory agencies.