Investment advisors defending fraud claims from a former client recently asked the Business Court to place them within the three-year statute of limitations applicable to those who provide professional services. In Pridgen v....more
As anticipated, 2020 has seen a number of fiduciary and best interest advice regulations advance at both the federal and state levels. Firms subject to these regulations face challenges in dealing with rules that impose a...more
On February 21, 2020, the Massachusetts Securities Division adopted final amendments to its regulations, formalizing a fiduciary duty rule applicable to broker-dealers and broker-dealer agents (the “Amendments”). The...more
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....more
Recently, the Massachusetts Securities Division made public its proposed final fiduciary duty rule (the “Proposed Rule”). The MSD has requested public comment concerning the Proposed Rule by January 7, 2020....more