fiduciary-standards
Fiduciary Standards
Purpose
Guide the understanding and application of fiduciary duties across the investment advisory landscape. This skill covers the Investment Advisers Act fiduciary duty, ERISA fiduciary standards, DOL rules, state-level developments, and CFA Institute standards — enabling a user or agent to identify fiduciary obligations and distinguish them from Reg BI and suitability standards.
Layer
9 — Compliance & Regulatory Guidance
Direction
prospective
When to Use
- Determining whether a fiduciary standard applies to a given relationship or transaction
- Designing compliance programs for registered investment advisers
- Evaluating ERISA fiduciary obligations for retirement plan advisers
- Comparing fiduciary duty to Reg BI or FINRA suitability
- Assessing dual-registrant obligations (when wearing IA hat vs BD hat)
- Understanding DOL fiduciary rules and prohibited transaction exemptions
- Evaluating state-level fiduciary standards
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