07.07.22

Nevada Resumes Fiduciary Rule Rewrite

by: Ted Godbout

Efforts by Nevada regulators to implement guidance defining the state’s fiduciary standard appear to be back on track, after stalling two years ago. The Securities Division of the Nevada Secretary of State released a broad-based proposal June 30 to revise regulations under Chapter 90 of the Nevada Administrative Code dealing with securities, including updating the fiduciary standards, as well as incorporating several provisions under the North American Securities Administrators Association’s Model Rules. Section 5 of the new proposed regulation seeks to establish the fiduciary duty of investment advisors, representatives of investment advisors and federal covered advisors and specifies conduct which violates the fiduciary duty.

Read the full article on National Association of Plan Advisors