US Investment Advisers Act of 1940 and SEC Adviser Rules (17 CFR Part 275)
Release IA-5248: the fiduciary duty of care and duty of loyalty as the SEC interprets section 206 – US Investment Advisers Act of 1940 and SEC Adviser Rules (17 CFR Part 275)

US Investment Advisers Act of 1940 and SEC Adviser Rules (17 CFR Part 275) ia5248-monitoring: Provide advice and monitoring over the course of the relationship at a frequency that fits the agreed scope

Care also means continuing to advise, and to monitor, for as long as the relationship lasts. The frequency and extent of monitoring depend on the scope agreed with the client: a comprehensive discretionary relationship with ongoing fees implies ongoing monitoring of the portfolio and the suitability of holdings; a one-time financial plan implies little or none. Where the adviser is paid an ongoing fee it should have a reasonable basis for believing the services it delivers, including monitoring, are worth that fee for the client. Reverse churning, where a client pays asset-based fees for an account that receives no advice or trading, is the example the SEC gives.

Maintained by Gerard Blokdyk

Other controls in Release IA-5248: the fiduciary duty of care and duty of loyalty as the SEC interprets section 206 – US Investment Advisers Act of 1940 and SEC Adviser Rules (17 CFR Part 275)

Query this from an agent

The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.