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SEC Staff Script Does Not a Fiduciary Duty Make: Goad v. Lewis
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By Christopher G. Lazarini

*Federal district courts must conduct a de novo review of those parts of a Magistrate Judge’s Report and Recommendation to which a party properly objects and may reject or modify the Magistrate Judge’s ruling only if it is clearly erroneous on the facts or contrary to the law.

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SEC Chair White: Uniform Fiduciary Standard Rulemaking is “Front and Center” and Coming Soon
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Speaking at an April 9th meeting of the SEC’s Investor Advisory Committee (“IAC”), SEC Chair Mary Jo White said that rulemaking on establishing a uniform fiduciary standard is “front and center” for the Commission.

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Separate Stipulation to Silence Statute of Limitations Shield Saves Slow Settlement Stab From Sinking Suit: National Credit Union Administration Board vs. Barclays Capital, Inc.
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By William D. Nelson

The National Credit Union Act’s Extender Statute is a statute of limitations, not a statute of repose;

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Fixing Mandatory Securities Arbitration: What Part about “Customer Choice” was Unclear?
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By George H. Friedman*

I recently authored a post in my blog at the Securities Arbitration Commentator, CFPB Issues Final Report on Arbitration,

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Department of Labor Proposes Fiduciary Standard For Retirement Accounts: Arbitration Embraced!
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We have reported previously on the Department of Labor’s (“DOL”) intention to establish a fiduciary standard for those offering investment advice concerning retirement accounts (see SAA 2015-12).

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Brokerage’s Attempt to Blame State Regulator for Arbitration Defeat Fails: Ito v. ADM Investor Services, Inc.
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By Paul J. Dubow

*A brokerage firm that loses an arbitration because of its speculative trading with an insurance company cannot recover the amount of the award from the State because the State erroneously advised the insurance company that it could engage in such trading.

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