Is it updated for the latest DOL rules?

The skill covers the baseline 1975 five-part test and the PTE 2020-02 pathway, including documentation requirements for rollover recommendations from plans to IRAs.

How does this skill help with Regulation Best Interest?

It provides a clear comparison between the ongoing fiduciary duty of investment advisers and the point-of-recommendation obligations of broker-dealers under Reg BI, helping users identify which standard applies to specific transactions.

Does it cover ERISA retirement plan obligations?

Yes, it includes detailed guidance on ERISA Section 404 prudent expert rules, the exclusive benefit rule, and the requirements for the Section 406 prohibited transaction exemptions.

Can it help with dual-registrant compliance?

Yes, it assists in identifying 'hat switching' scenarios and outlines the specific disclosure and documentation required when changing from an advisory to a brokerage capacity.

Fiduciary Standards & Regulatory Compliance

Name: Fiduciary Standards & Regulatory Compliance
Author: JoelLewis

byJoelLewis

•

Learning & Documentation

Applies comprehensive fiduciary duty standards and regulatory frameworks to ensure compliance across investment advisory and retirement services.

This skill equips Claude with deep expertise in fiduciary obligations, covering the Investment Advisers Act Section 206, ERISA prudent expert rules, and Department of Labor (DOL) requirements. It enables users to navigate complex regulatory environments by distinguishing between fiduciary duty and Regulation Best Interest (Reg BI), identifying duty of care and loyalty requirements, and evaluating state-level compliance developments. It is essential for designing compliance programs, drafting Form CRS disclosures, and ensuring that investment recommendations meet the highest legal and ethical standards for Registered Investment Advisers and retirement plan fiduciaries.

Key Features

01Guides documentation for PTE 2020-02 rollover exemptions.

0218 GitHub stars

03Evaluates duty of care and duty of loyalty requirements for IAs.

04Distinguishes between fiduciary duty, Reg BI, and suitability standards.

05Analyzes ERISA Section 404 prudent expert and exclusive benefit rules.

06Provides frameworks for conflict of interest disclosure and mitigation.

Use Cases

01Evaluating fiduciary status and obligations for retirement plan recommendations.

02Designing compliance programs for Registered Investment Advisers (RIAs).

03Drafting Form CRS and conflict of interest disclosures for dual-registrants.

What are Skills?·How to Install

Install with 🐟 Skill.Fish

npx skillfish add joellewis/finance_skills fiduciary-standards

For use in Claude.ai and ChatGPT

Download Skill