Massachusetts Advances Regulations Imposing Fiduciary Duty on Broker-Dealers

In November 2019, the Commonwealth of Massachusetts issued revised regulations imposing a fiduciary standard upon broker-dealers, although the regulations would not apply to a broker-dealer who is a fiduciary under ERISA, a status currently in limbo since the invalidation by the Court of Appeals for the Fifth Circuit of the Department of Labor’s conflict of interest/fiduciary rule.  In issuing ...