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Investment firms win changes to new rule governing Mass. broker-dealers

bizjournals Friday, 21 February 2020
Massachusetts Secretary of the Commonwealth William Galvin on Friday finalized his proposal to hold broker-dealers to a higher legal standard when interacting with investors — but not before making some changes to make it more friendly to financial services firms. Effective March 6, broker-dealers in Massachusetts will be held to the so-called fiduciary standard, as opposed to the “best interest” standard put forward by the Trump administration last year that has come under fire from consumer…
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