Fiduciary Duties of Investment Advisors, Broker-Dealers and Fund Managers

Navigating Regulatory and Litigation Developments to Minimize Fiduciary Liability Claims

SEC recommends higher fiduciary standards for broker-dealers

Recording of a 90-minute premium CLE webinar with Q&A

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Conducted on Thursday, February 24, 2011

Recorded event now available

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Course Materials

This CLE course will provide financial services counsel with an overview of the evolving nature of fiduciary duties in an era of financial reform. The panel will discuss regulatory and litigation trends and developments and outline risk management strategies to minimize fiduciary liability claims.


Fiduciary duties of investment advisors, broker-dealers, fund managers and other market participants are under heightened scrutiny by Congress, the courts and federal agencies.

The Dodd-Frank Act clarifies that the SEC has the authority to hold broker-dealers to the same duties as registered investment advisors. The DOL issued its final regulations on fiduciary requirements for disclosure of ERISA plan fees and expenses.

Meanwhile, courts are indicating a willingness to expand fiduciary duties owed by hedge fund advisors to individual investors. In Jones v. Harris Assocs., the U.S. Supreme Court weighed in on the scope of fiduciary duties owed with respect to fees charged to mutual funds.

Listen as our authoritative panel of financial services attorneys guides you through trends and developments in fiduciary duties for investments advisors, brokers-dealers, fund managers and other market participants, and provides best practices to minimize claims and liability.



  1. Financial advisors
    1. Registered investment advisors
    2. Broker dealers
    3. Hedge fund advisors
    4. SEC developments
  2. Insurance and retirement plans expenses and revenue sharing
    1. Mutual funds
    2. ERISA fiduciary disclosure
  3. Risk management strategies for fiduciaries


The panel will review these and other key questions:

  • How has Dodd-Frank impacted fiduciary duties of market participants?
  • In what circumstances have the courts addressed the fiduciary duties owed by private fund managers?
  • What are the latest developments in fiduciary obligations with respect to retirement fund fees and revenue sharing?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.


Fleckner, James
James O. Fleckner

Goodwin Procter

Mr. Fleckner is a nationally recognized leader in the field of ERISA litigation and heads the firm’s ERISA...  |  Read More

Marco Adelfio
Marco Adelfio

Goodwin Procter

His practice focuses on representing investment companies and investment advisers. His investment company clients...  |  Read More

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