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Today, the Department of Labor (“DOL”) published its much anticipated and highly controversial Conflict of Interest Rule regarding imposition of a fiduciary standard on advisors providing recommendations for retirement accounts.  Norton Rose Fulbright previously reviewed industry criticism of the anticipated rule as well as measures firms were already taking in anticipation of the rule, including changes to product offerings and fee structures, setting stricter asset requirements for customers, or exiting the broker-dealer space altogether. In…
Recent California labor and employment law developments could signal good news for employers facing individual and/or representative claims under California’s Private Attorneys General Act (“PAGA”).  Specifically, a newly-enacted state law could potentially help rein-in the rising number of individual and representative PAGA claims by providing employers an opportunity to remedy certain “technical” Labor Code violations before employees can file lawsuits for those violations.  On a different front, the California Supreme Court in Williams v.…