One-page document would crystalize costs highlighted in Form ADV for Massachusetts investors. Knut Rostad praised William Galvin for illuminating fees.
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According to Kenneth Corbin’s reporting in Financial Planning, it might. Corbin reports that firms such as Morgan Stanley, Wells Fargo, Schwab, and TD Ameritrade write in comment letters to Nevada the new rule would dissuade their offering their BD transaction services.
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.