South Dakota § 58-33A-25.5 - Definition of terms--Compliance with Conduct Rules.
Full text of South Dakota South Dakota Codified Laws § 58-33A-25.5 — Definition of terms--Compliance with Conduct Rules., with citation guidance and answers to common questions.
§ 58-33A-25.5. Definition of terms--Compliance with Conduct Rules.
The terms used in § 58-33A-25 mean:
(1) "Comparable standards,":
(a) With respect to broker-dealers and registered representatives of broker-dealers, applicable SEC and FINRA rules pertaining to best interest obligations and supervision of annuity recommendations and sales, including 17 C.F.R. § 240.15|-1 (2023);
(b) With respect to investment advisers registered under federal or state securities laws or investment adviser representatives, the fiduciary duties and all other requirements imposed on such investment advisers or investment adviser representatives by contract or under the Investment Advisers Act of 1940 or applicable state securities law, including the Form ADV and interpretations; and
(c) With respect to plan fiduciaries or fiduciaries, the duties, obligations, prohibitions, and all other requirements attendant to such status under Employee Retirement Income Security Act of 1974 (ERISA) or the Internal Revenue Code as of January 1, 2023; and
(2) "Financial professional," a producer that is regulated and acting as:
(a) A broker-dealer registered under federal or state securities laws or a registered representative of a broker-dealer;
(b) An investment adviser registered under federal or state securities laws or an investment adviser representative associated with the federal or state registered investment adviser; or
(c) A plan fiduciary under 29 U.S. Code § 1002(21) (2019) or fiduciary under 26 U.S. Code § 4975(e)(3) (2019).
Source: SL 2022, ch 186, § 23, eff. Jan. 1, 2023.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-33A-25.5
What does South Dakota Codified Laws § 58-33A-25.5 cover?
Section 58-33A-25.5 ("Definition of terms--Compliance with Conduct Rules.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 58-33A-25.5?
A common citation format is "South Dakota Codified Laws § 58-33A-25.5" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 58-33A-25.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.