BISA Portfolio
Bill Requiring Fiduciary Disclosure Reintroduced in New Jersey
by BISA Admin
New Jersey state lawmakers introduced legislation this week that would require financial advisors to disclose their fiduciary status to investors. Under the measure, advisors who do not have to meet a fiduciary standard must tell clients in a compulsory statement. The measure's sponsors refiled the bill Tuesday, after it failed to become a state law in the previous session of the legislature. Connecticut recently implemented a fiduciary disclosure law, and last year the Nevada legislature approved a bill that applies fiduciary duty to the state's brokers. A similar bill to New Jersey's has been introduced in the New York legislature.
InvestmentNews (01/12/18)
Schoeff, Mark, Jr.