Dylan Naughton

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On February 15, 2018, the Enforcement Section of the Massachusetts Securities Division (the “Division”) of the Office of the Secretary of the Commonwealth charged a registered broker-dealer (the “Broker-Dealer”) that operated in Massachusetts with violating its own internal policies designed to ensure compliance with the U.S. Department of Labor’s (the “DOL”) Fiduciary Rule. The DOL Fiduciary Rule The DOL Fiduciary Rule significantly expands the scope of persons who will be deemed fiduciaries when dealing with…
On December 1, 2017, the SEC’s Division of Corporation Finance updated its Financial Reporting Manual for the following changes: Revising guidance related to the pro forma impact of adopting new accounting standards (Sections 3250.1(m)-(n)), including clarifying that if a registrant: acquires a significant business, and such business adopts a new accounting standard as of a different date and/or under a different transition method than the registrant, than the registrant must conform the date and method…