Investor Protection

CFA Files Comments in Support of NJ Bureau of Securities’ Pre-Proposal to Apply a Fiduciary Duty to Brokers’ and Advisers’ Investment Advice

In comments filed with the New Jersey Division of Consumer Affairs, Bureau of Securities, CFA outlines the current gap in protections for retail investors when they receive investment advice, explains why it is entirely appropriate for states to apply a fiduciary duty to brokers’ and advisers’ investment advice, provides a framework for what that fiduciary duty should entail, and makes clear that arguments that any state action in this space would be preempted have no merit.

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