fiduciary duty News

SEC Rules Target Investment Brokerage Disclosures, Conflicts

The U.S. Securities and Exchange Commission (SEC) on Wednesday will vote to adopt a package of rules mandating brokerage firms disclose potential conflicts in the fees investors pay and the commission brokers earn when giving financial advice. The Regulation Best …

8 Considerations for Buyers and Sellers of Insurance Agencies

Insurance agency acquisitions and deal values are near an all-time high and all expectations are that deal flow in 2019 will match or exceed last year’s numbers. And while reported numbers tend to skew towards larger agency transactions, there are …

South Carolina Jury Awards $8.1 Million to Investor Who Sued BB&T

A South Carolina jury on Monday awarded $8.1 million to a former adviser who sold his wealth management business to BB&T Corp. and later alleged that the company mismanaged his retirement nest egg with a risky strategy, according to a …

SEC Proposes Fiduciary Duty for Investment Brokers Advising Retail Clients

Investment brokers advising retail customers should be held to a standard that requires them to recommend products that are in the best interest of clients, according to a proposal from a group advising U.S. regulators. Members of the Securities and …

Monitor Launches Enhanced Executive Liability Insurance for Private Companies

Monitor Liability Managers has launched a new executive liability insurance suite of coverages for privately held companies called ExecSuite. With ExecSuite, businesses can choose the coverage that best suits their needs. Choices include: directors, officers and corporate liability; employment practices …

Segal Select Insurance Acquires Fiduciary Business from A&R Associates

Segal Select Insurance Services, Inc. has acquired Broker of Record rights to certain fiduciary liability policies and fidelity bonds previously brokered by A&R Associates in Alexandria, Va. According to Brian Smith, Segal Select’s chief operating officer, the acquisition expands Segal’s …

NCPERS Launches Fiduciary Liability Insurance Program with Ullico Casualty

The Board of Directors of the National Conference on Public Employee Retirement Systems NCPERS, a trade association for public sector funds, has unanimously endorsed Ullico Casualty Group Inc.’s fiduciary liability insurance program for its members. The members of NCPERS manage …

Chartis Enhances Fiduciary Liability Coverage for Organized Labor

Chartis has made two enhancements, developed by its Executive Liability division, to its fiduciary liability insurance solutions for organized labor. The first is the fiduciary liability insurance edge endorsement, which when added to the Chartis insurers’ fiduciary liability policy for …

Court Kills J.R. Ewing Actor’s $11.5 Million Citigroup Settlement

Citigroup Inc. won a victory over actor Larry Hagman this week when a judge threw out an arbitration award against the bank for over $11 million in damages. Hagman, the actor who played the nefarious J.R. Ewing in the 1980s …