Fiduciary Standards Purpose Guide the understanding and application of fiduciary duties across the investment advisory landscape. This skill covers the Investment Advisers Act fiduciary duty, ERISA fiduciary standards, DOL rules, state-level developments, and CFA Institute standards — enabling a user or agent to identify fiduciary obligations and distinguish them from Reg BI and suitability standards. Layer 9 — Compliance & Regulatory Guidance Direction prospective When to Use - Determining whether a fiduciary standard applies to a given relationship or transaction - Designing compliance prog…