Author: Brad Campbell

Brad Campbell

View the full bio for Brad Campbell at the Drinker Biddle website.

Posts by Brad Campbell:


Upcoming Webinar | DOL Investigations of Registered Investment Advisers Under ERISA – What Should You Know? What Can You Do?

Investigating financial service providers to 401(k), 403(b) and other retirement plans for compliance with ERISA remains an area of focus for the U.S. Department of Labor (DOL) Employee Benefits Security Administration.

Join members of Faegre Drinker’s ERISA financial services team on April 27 from noon to 1:00 p.m. CT, as we explore what registered investment advisers can expect if they are selected for an investigation and best practices for getting through an investigation and negotiating a favorable resolution as quickly and painlessly as possible. While the focus will be on RIAs, this session should be informative for broker-dealers and dual registrants as well.

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A Look Inside the SEC’s Final RIA Guidance and Its Discussion of “Best Interest”

In light of the significance of the final rules and commission interpretations issued by the Securities and Exchange Commission on June 5, 2019, Drinker Biddle & Reath’s Best Interest Compliance Team is publishing a series of articles on the subject. The first article, “The Final Reg BI Package: What to Know and What’s Next,”  described the final package of rules and interpretations. The second article covered “Form CRS .” The third article, summarized here, will provide a more detailed analysis of strategically selected provisions of the RIA Guidance.

The Securities and Exchange Commission (SEC) Interpretation Regarding Standard of Conduct for Investment Advisers (RIA Guidance) reaffirms, interprets, clarifies, and provides guidance regarding the fiduciary duty an investment adviser owes to its clients under the Investment Advisers Act of 1940 (Advisers Act) as it has been interpreted by common law and SEC guidance. The RIA Guidance also describes the underlying responsibilities that constitute an investment adviser’s fiduciary duties: the Duty of Care and the Duty of Loyalty.

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Financial Services Industry’s New Regulation Best Interest Standard of Care

On June 5, 2019, the Securities and Exchange Commission (SEC) approved the Regulation Best Interest Final Package, the new disclosure requirements that accompany the financial services industry’s new Regulation Best Interest standard of care. In light of the significance of Regulation Best Interest (Reg BI) for the financial services industry, Drinker Biddle & Reath’s Best Interest Compliance Team is publishing a series of articles on the SEC’s finalized “Reg BI Package” of rules and guidance.

One of the four parts of that package is Form CRS − a mandate that broker-dealers and investment advisers with retail investors (natural persons, trusts or entities representing natural persons) provide a two-page relationship summary disclosing information about their firm before a new client enters an investment adviser’s agreement or engages the services of a broker-dealer, or in the case of an existing client when there is any material change in the nature and scope of the relationship.

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