News | 07.05.19
New York Lawmaker Works on Bill to Establish Fiduciary Duty for Advisors in State
New York Assemblyman Jeffrey Dinowitz (D-Bronx) is working on legislation to raise investment advice requirements in the state. The measure would impose a fiduciary standard on all advisors in New York. Dinowitz hopes to introduce it at the beginning of the next legislative session in January. "This would be a stronger bill because advisors are not required to act in a consumer's best interest," said Dinowitz, chairman of the New York Assembly's Judiciary Committee. "New York — of all places, given our role in the financial industry — we need to do everything possible to ensure consumers are protected from unscrupulous advisors."
Read the full article on InvestmentNews