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The Investment Advisers Act of 1940, codified at 15 U.S.C. § 80b-1 through 15 U.S.C. § 80b-21, is a United States federal law that was created to monitor and regulate the activities of investment advisers (also spelled "advisors") as defined by the law.
An IA must adhere to a fiduciary standard of care laid out in the US Investment Advisers Act of 1940.This standard requires IAs to act and serve a client's best interests with the intent to eliminate, or at least to expose, all potential conflicts of interest which might incline an investment adviser—consciously or unconsciously—to render advice which was not in the best interest of the IA ...
The Investment Company Act of 1940 (commonly referred to as the '40 Act) is an act of Congress which regulates investment funds. It was passed as a United States Public Law ( Pub. L. 76–768 ) on August 22, 1940, and is codified at 15 U.S.C. §§ 80a-1 – 80a-64 .
Registered investment advisors are fiduciaries, but brokers and other money managers aren’t. Confirming if an advisor is a legal fiduciary can help determine independent financial advisor status ...
If you’re an investment advisor, whether you’re a seasoned pro or just starting out, deciphering rules and regulations like the Securities and Exchange Commission (SEC) Marketing Rule is key ...
When these services are provided by an RIA, they are subject to a fiduciary standard of care laid out in the US Investment Advisers Act of 1940, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"), and related rules issued by the Securities and Exchange Commission.
Starting Sept. 23, investment professionals will be required to act as fiduciaries — meaning they must put your needs as an investor before their own interests and deliver unbiased advice to you.
The anti-fraud provisions of the Investment Advisers Act of 1940 and most state laws impose a duty on Investment Advisors to act as fiduciaries in dealings with their clients. This means the adviser must hold the client's interest above its own in all matters. The SEC has said that an adviser has a duty to: [19]