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The SEC’s Standard of Conduct Proposals Would Raise the Bar on Investment Advisers

Posted in Investment Adviser Regulation

According to the SEC, its April 18, 2018 release proposing an interpretation of the standard of conduct for investment advisers is intended to “reaffirm – and in some cases clarify – certain aspects of the fiduciary duty that an investment adviser owes to its clients under section 206” of the Investment Advisers Act of 1940. As discussed in greater detail in this alert, however, the proposed interpretation, if adopted, appears to expand the parameters of the fiduciary duty standard and could require advisers to take on additional regulatory obligations.

This alert is one in a series of Client Alerts on recent SEC proposals regarding regulation of broker-dealers and investment advisers.

Read our client alert.