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

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…