Tag: INVESTMENT ADVISOR COMPLIANCE
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Fiduciary Papers #8: Brokers’ and Investment Advisers’ Duty of Due Care, and Due Diligence in Particular, Receives Renewed Emphasis from SEC Staff
In the design and management of investment portfolios, both brokers (under Reg BI) and investment advisors (as fiduciaries) possess a duty of due care. This includes undertaking sufficient due diligence as to both investment strategies, as well as in the investment product selection process. As discussed below, in April 2023 the Staff of the U.S.…