Securities Law Commons^™

Supreme Court’S Decision In Fifth Third Bancorp V. Dudenhoeffer Introduces New Standards For Erisa Fiduciaries, Barry R. Temkin, Kate E. Digeronimo

Barry R. Temkin

In its 2014 decision in Fifth Third Bancorp v. Dudenhoeffer et al., the U.S. Supreme Court held that fiduciaries of plans that hold publicly traded company stock are subject to the same duty of prudence that applies to fiduciaries in general under the Employee Retirement Income Security Act of 1974 (“ERISA”). In doing so, the Supreme Court effectively rejected decades of law applied by nearly all the Courts of Appeals affording fiduciaries of company stock plans a special “presumption of prudence” not available to the fiduciaries of other varieties of ERISA plans. In place of the presumption of prudence, the …

The Sec's Proposed Uniform Fiduciary Standard For Investment Advisers: An Update, Barry R. Temkin, Matthew Photis

Barry R. Temkin

It has been been three years since the Securities and Exchange Commission, acting under the authority of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, released the results of its study recommending a uniform fiduciary standard for the conduct of registered representatives and investment advisers. While SEC Chair Mary Jo White has proclaimed that adoption of a uniform fiduciary standard as a major regulatory priority, the SEC has yet to promulgate final regulations implementing the change. It is unclear whether or when a universal fiduciary standard will be adopted. Adoption of a uniform fiduciary standard could lead …

Recent Developments In Finra Securities Arbitrations, Barry R. Temkin, Robert J. Usinger, Christopher Amore

Barry R. Temkin