ERISA for securities professionals

• Published in: The journal of investment compliance Vol. 5; no. 1; pp. 69 - 83
• Main Author: Matta, Richard K
• Format: Journal Article
• Language: English
• Published: Bingley Emerald Group Publishing Limited 01-01-2004
• Subjects: Compliance; Employee benefits; ERISA; Fiduciary responsibility; Financial institutions; Investment funds; Investments; Investors; Securities industry; United States > US; Financial institutions; Investment funds; Investors; Investments
• ISSN: 1528-5812; 1758-7476
• DOI: 10.1108/15285810410635957

The following is an overview of how the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), applies to securities professionals such as registered investment advisers ("RIAs") and registered broker-dealers who advise, manage, or trade for investment portfolios of employee benefit plans subject to ERISA. The principal focus of this outline is on securities registered under the Securities Act of 1933 (the "1933 Act") and the Securities Exchange Act of 1934 (the "1934 Act"), and securities of investment companies registered under the Investment Company Act of 1940. Many of these principles also will apply directly to unregistered securities, as well as to other investments offered by banks, insurance companies, commodity trading advisers and real estate advisers, though there may be some variation.