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Latest on the New Proposed DOL Fiduciary Rule
What a difference four years make! In June the US Department of Labor issued new proposals that, among other things, would enshrine the old tests to determine who is an ERISA fiduciary, allow ERISA and IRA fiduciaries to receive compensation for recommending certain types of rollovers, engage in principal trades, and require fiduciaries to adhere to a best interest standard. Our panel will unpack the proposed rule (or a final rule that arrives prior to the conference) and discuss how it could change your business with plans and IRA owners.
After attending this session, attendees should be able to:
- Identify the dramatic changes in the new proposal
- Determine when an ERISA fiduciary would not be a “fiduciary” under IA and BD regulations if the proposal is adopted
- Analyze potential avenues of new business that could result from this proposal
This virtual course is being taught as part of the Fall 2020 Compliance Conference. To learn more, visit our main conference webpage.
Counsel, Stradley Ronon Stevens & Young
Nicole represents securities and commodities professionals in a variety of regulatory, compliance and corporate matters. She has extensive experience with respect to hedge funds, commodity pools, private equity funds, cryptocurrency funds, venture capital funds, real estate funds, fund of funds and socially responsible investment vehicles.
Nicole provides legal and compliance guidance to investment advisers, commodity pool operators, commodity trading advisors, introducing brokers, forex firms, proprietary trading firms, futures commission merchants and broker-dealers. Nicole drafts and develops offering documents, compliance manuals, policies and procedures, corporate materials, business contracts, investment agreements and advertising materials.
Nicole is a Founder of the Investment Network and the Digital Assets Working Group, and is a Director of the Washington D.C. Compliance Roundtable of the Chicago Region. Nicole was selected as a Super Lawyers Rising Star in 2016, 2017, 2018, 2019 and 2020.
Partner, K&L Gates LLP
Robert Sichel is a partner in K&L Gates’ New York office, where he is a member of the investment management practice group and oversees the ERISA fiduciary practice. He helps financial institutions and retirement plan sponsors navigate the complexities of ERISA and the Internal Revenue Code.
Robert also counsels sponsors of defined benefit and defined contribution plans on investment matters, governance, de-risking and the handling of service providers.
Prior to joining K&L Gates, Robert was general counsel of a $20 billion registered investment adviser, where he led a team of legal, compliance and risk professionals. He has also served as internal ERISA counsel for two global investment banks where he advised a variety of businesses, including retail, institutional asset management, derivatives, prime brokerage, and structured products.
For Whom: Designed to increase the professional competence of Investment Advisers and Broker-Dealers.
Suggested Skill Level: Intermediate
Maximum Recommended Credit Hours for this session will include CLE, IACCP® and CPE .
CA MCLE = 75 minutes
IACCP® = 75 minutes
CPE = 75 minutes
For more information, check out the NRS Continuing Education Guide.