Our national Best Interest compliance team assists clients in interpreting and preparing for compliance with the evolving and overlapping federal and state laws and regulations related to the standard of care for broker-dealers, investment advisers, and insurance companies, agents and brokers. We offer an interdisciplinary team that draws from Faegre Drinker’s investment management, ERISA, Securities and Exchange Commission (SEC) and regulatory enforcement defense, litigation/FINRA arbitration and compliance, class action defense, and insurance regulatory and transactional practices. Our team puts experienced litigators, legislative professionals, compliance attorneys and former regulators in your corner.
We actively assist investment managers, broker-dealers, registered investment advisers, retirement plan/IRA service providers and insurance companies with the challenges resulting from the ever-changing regulations from the SEC, Financial Industry Regulatory Authority (FINRA), the Department of Labor and state agencies related to fiduciary requirements and best interest duties.
Best Interest Compliance Counsel
We help formulate compliance practices, supervisory procedures and internal controls and determine whether compliance policies and procedures are implemented as written. Our attorneys draft agreements, disclosure documents and written supervisory procedures to assist with implementing the new standard of care, and supervision of that standard. We also advise clients on developing products and services that are consistent with fiduciary/best interest standards and mitigation and disclosure of conflicts of interest.
Best Interest Investigations, Litigation and Enforcement
We represent clients involved in investigations and enforcement matters before agencies such as the SEC, the Department of Labor (DOL), the Internal Revenue Service (IRS), FINRA and other self-regulatory or state agencies. Our attorneys also provide independent assessments of risk management and supervisory frameworks, and overall compliance policies and procedures related to conflicts of interest, breaches of fiduciary duty and securities law violations. In addition, we represent broker-dealers, investment advisers, insurance companies and other financial services entities in litigation and arbitration matters on standards of care and conflicts of interest.