11.06.24

NASAA Eyes Restrictions for 'Advisor' Title Use

by: Leo Almazora

The North American Securities Administrators Association (NASAA) has proposed amendments to its model rule, aiming in part to prohibit the use of “advisor” titles by brokers who lack the corresponding requirements. The changes are part of the group's response to evolving industry standards and the SEC’s 2019 Regulation Best Interest rule. NASAA noted that the use of "advisor" titles by unlicensed brokers can create confusion for investors by suggesting a fiduciary duty that isn’t legally required in all broker-client relationships.

Read the full article on InvestmentNews