10.26.23
Ed Jones, RayJay, LPL Pile Into Suit Contesting Missouri Anti-ESG Rules
by: Sabrina Kharrazi
Executives from Edward Jones, Raymond James, LPL and three other broker-dealers submitted letters of support for a lawsuit contesting Missouri rules that place new requirements on broker-dealers and advisors with respect to recommending environmental, social and governance (ESG) investments. The Securities Industry and Financial Markets Association filed the lawsuit in federal court in Missouri in August. The state rules require investors to sign a consent form before broker-dealers and financial advisors can recommend investments that “incorporate a social objective or other nonfinancial objective,” the complaint states. Those advisors are required to obtain those consent signatures from their clients every three years.
Read the full article on Financial Advisor IQ