Joint Trades on MA Fiduciary Proposal

SIFMA as part of a joint trades letter provides comment on the Massachusetts Securities Division’s proposed regulation “to apply a fiduciary conduct standard on brokerdealers, agents, investment advisers, and investment adviser representatives when dealing with their customers and clients.” SIFMA expresses concern the proposal, while well intentioned, will limit both the choices available to consumers and their access to one-on-one assistance.

SIFMA signed with:

Insured Retirement Institute (IRI)

NAIFA Massachusetts

Life Insurance Association of Massachusetts

National Association for Fixed Annuities (NAFA)

Center for Capital Markets Competitiveness, U.S. Chamber of Commerce

American Council of Life Insurers

Institute for Portfolio Alternatives (IPA)

Alternative & Direct Investment Securities Association (ADISA)

Money Management Institute (MMI)

National Association of Insurance and Financial Advisors (NAIFA)

Financial Services Institute (FSI)

See Press Release: SIFMA Comments on Massachusetts Fiduciary Rule Proposal (July 26, 2019)