Under DOL Rule’s Shadow, Fiduciary Fight Rages On
October 11, 2023 by Melanie Waddell
The fiduciary duty debate is raging once again with two recent developments: the Massachusetts fiduciary rule being upheld by the state’s highest court and the Labor Department’s new fiduciary rule being reviewed by the Office of Management and Budget.
With the ruling by the Massachusetts Supreme Judicial Court in late August, broker-dealers in Massachusetts providing investment recommendations or advice to retail customers now face a new compliance challenge: They must comply with the Securities and Exchange Commission’s Regulation Best Interest and with the state’s fiduciary rule. Click HERE to read the full story via Think Advisor