Speaking Engagement

NRS presents Understanding Fiduciary Duties under the Advisers Act

Wednesday, November 09 06:00 AM BST to 06:00 AM BST

National Regulatory Services presents a webinar:Understanding Fiduciary Duties under the Advisers ActNovember 8, 20111:00 PM 3:00 PM ET

In 1963, the United States Supreme Court held in SEC v. Capital Gains Research Bureau, Inc., that Section 206 of the Investment Advisers Act of 1940 imposes a fiduciary duty on investment advisers by operation of law. Section 206 of the Act (generally referred to as the "anti-fraud" provision) makes it unlawful for an investment adviser to engage in fraudulent, deceptive, or manipulative conduct. The general purpose of an investment adviser's fiduciary duty is to eliminate conflicts of interest, and to prevent an adviser from taking unfair advantage of a client's trust. In order to fulfill this duty, an investment adviser is required to always act in its clients' best interests and to make full and fair disclosure of all material facts, especially when the adviser's interests may conflict with those of his clients. The SEC has continuously made it clear subsequent to Capital Gains that the Act imposes on investment advisers an affirmative duty to their clients of utmost good faith, full and fair disclosure of all material facts, and an obligation to employ reasonable care to avoid misleading their clients.

The speakers will address the core components of the Advisers Act anti-fraud rule that governs advertising by investment advisers.

Paul Hastings partner Mitchell Nichter is a featured speaker for this webinar.

For additional information and to register, visit the NRS website here.