2d. BD/IA - Due Care and Investment Advice: Confluence of Duties of Care? (Advanced - OPEN)
The April 2023 Staff Bulletin on care obligations suggests that the SEC views such obligations on the part of a broker-dealer and on the part of an investment adviser, each providing personalized investment advice, to be similar, if not identical. The contours of the obligation to exercise due care have received less attention than the obligations with respect to loyalty. This session will explore the parameters of the obligation to exercise due care and its implications for advisers and broker-dealers alike.
This session is open to regulators but closed to members of the press.
Explore the primary elements of the duty to exercise due care in the context of investment advice.
Learn whether the level of care required differs by business model.
Discuss the pros and cons of manual versus automated solutions.
Analyze lessons from enforcement proceedings based on a failure to satisfy the duty of care.
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