Complaint Filed in the U.S. District Court for the State of Missouri

Published on:
August 10, 2023

SIFMA filed a complaint in the U.S. District Court Western District for the State of Missouri on two new Missouri Securities Division rules (“Rules”) that force financial firms and professionals to obtain client signatures on state-scripted documents before providing advice that “incorporates a social objective or other nonfinancial objective.” The state-mandated scripts require financial firms and clients to acknowledge that incorporating these objectives “will result” in investments and advice “that are not solely focused on maximizing a financial return” for the client. The Rules also require firms to provide the written scripts to clients annually, and to secure new client signatures on the scripts “no less than every three (3) years.”

See also:

Details

Download

More Content

  • Letters
    Jun 09, 2026

    FinCEN and OFAC Joint Proposed Rulemaking on PPSI AML/CFT Program and Sanctions Compliance Program Requirements

    SIFMA and SIFMA AMG comment to FinCEN and OFAC on PPSI AML/CFT Program and Sanctions Compliance Program Requirements.
  • Letters
    Jun 09, 2026

    AML and Countering the Financing of Terrorism Programs

    SIFMA comments to FinCEN in support of the proposed rulemaking to reform the requirements for financial institutions' AML/CFT programs.
  • Amicus Briefs
    Jun 09, 2026

    In re SmileDirectClub Securities Litigation

Get the latest trends, stats, and research on financial markets and securities.