In this podcast, Robert Huebscher of Advisor Perspectives interviews Knut A. Rostad about the outlook for fiduciary matters in 2019.
Testimony of Knut A. Rostad . President & Co-Founder Institute for the Fiduciary Standard, March 13, 2019, to the Maryland Senate Finance Committee on SB 786 and House Economic Matters Committee on HB 1127 on Section 5.
Knut Rostad, founder of the Institute for the Fiduciary Standard, directed Maryland lawmakers to his group’s website, where real investor “Gail from Maryland” tells her story of being ripped off by an abusive broker.
Knut Rostad praised the Maryland (fiduciary) bill, saying it would provide better investor protection than the SEC proposal.
First the Labor Department’s fiduciary rule collapsed. Then the SEC proposed Regulation Best Interest, a new broker regulation that left many investor advocates wanting more.
The North American Securities Administrators Association is escalating its call for tougher broker sales regulation, scheduling a Capitol Hill briefing for lawmakers, regulators and the media on March 5.