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While 2018 had the end of the DOL rule, it doesn\u2019t mean that regulation for 401(k) plans<\/span><\/a> and advisors has gone away. With the SEC\u2019s rule incoming in 2019, and <\/span>some vigorous enforcement<\/b><\/a><\/span> of current rules, fiduciaries do need to stay on their toes. <\/span><\/span><\/p>\n Based on recent research<\/a><\/span> and opinions of Financial Industry Regulatory Authority, the following trends should be considered by fiduciaries in 2019: <\/span><\/p>\n In September 2018, New Jersey was the first state to <\/span>take action<\/span><\/a><\/span> on a fiduciary rule after the DOL rule’s death, but experts think other states will likely jump on board. This may lead to multiple approaches to the fiduciary standard. For example in New Jersey the state rule would \u201c<\/span> create a uniform fiduciary standard for both brokers and registered investment advisers.”\u00a0<\/span><\/span><\/p>\n Be sure to also read what people are saying about state fiduciary rules<\/span>.<\/a><\/em>\u00a0<\/span><\/p>\n The Labor Department plans to issue in September 2019 a revised final fiduciary rule package to replace the one vacated this spring by the U.S. Court of Appeals for the 5th Circuit, according to Labor\u2019s fall regulatory agenda. (<\/span>source<\/span><\/a>)<\/span><\/span><\/p>\n The Securities and Exchange Commission plans to issue a final rule by September 2019 on its <\/span>standards of conduct package<\/span><\/a><\/span> covering investment advisory professionals, according to its updated regulatory agenda. <\/span><\/span><\/p>\n Will Include:<\/span><\/p>\n Even without the DOL\u2019s rule and the SEC\u2019s rule yet to be finished, there are still plenty of regulations and rules that fiduciaries need to follow. It seems more than ever, regulative bodies are going to start enforcing existing fiduciary obligations even more than they have in the past. Acting in the best interest of the client as a fiduciary is a top priority and something that is going to be watched much more closely while we await even more fiduciary rules. Advisors should definitely stay alert of their fiduciary responsibilities in 2019 and be ready for even more regulations that will be coming out in the next year.<\/span><\/p>\n <\/p>\nThings to Keep in Mind<\/b><\/span><\/h4>\n
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A State Affair<\/b><\/span><\/h4>\n
September 2019<\/b><\/span><\/h4>\n
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