The Massachusetts Securities Division has issued an amended version of its proposed fiduciary standard for financial advisors. The original proposal was released in mid-June.
The amendment adds definition to the standard by including a detailed list of requirements as described in Faegre Drinker’s updated state law chart. The absence of this type of description has been a major criticism of other attempts at adopting a fiduciary standard for financial advisors.
Continue reading “State Fiduciary Duty Developments: Massachusetts Moves Ahead with Fiduciary Standard”