SIFMA Regulation Interest Seminar

Morgan Lewis’s partner David Boch spoke on the panel “What’s Next” on July 10, during the Securities Industry and Financial Markets Association (SIFMA) in-depth, half-day seminar and webcast which discussed the US Securities and Exchange Commission's (SEC) final Regulation Best Interest. The panel focused on the overview of the broader regulatory landscape including: prospective state regulations (e.g., Nevada, New Jersey, etc.) and private standards (i.e., the CFP fiduciary standard); prospective legal challenges to Reg BI and/or federal preemption challenges to state regulatory standards; and DOL’s prospective regulatory response to Reg BI.

The afternoon program featured a keynote address, opening remarks by SIFMA CEO Ken Bentsen, a conversation with SIFMA General Counsel Ira Hammerman and panels of practitioners providing insight on:

• Regulation Best Interest
• Form CRS
• SEC Guidance on Investment Advisers’ Fiduciary Duty and the “Solely Incidental” Prong under the Advisers Act
• What’s Next? (including state-level fiduciary proposals, US Department of Labor action and more)