12.04.19
Massachusetts's Galvin Moves Forward with Fiduciary Rule for State
by: Rita Raagas De Ramos
Massachusetts's Secretary of the Commonwealth William Galvin has signed off on a proposal for new regulations that would impose a uniform fiduciary conduct standard on broker-dealers, agents, investment advisors, and investment advisor representatives when dealing with their customers and clients in the state. “I am proposing this standard because the SEC has failed to provide investors with the protections they need against conflicts of interest in the financial industry with its 'Regulation Best Interest' rule,” Galvin said. A hearing on the proposed regulations will be announced at a later date.
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