State securities regulator says states can enforce DOL fiduciary rule

February 20, 2018 by Mark Schoeff Jr.

 A prominent state securities regulator backed Massachusetts’ effort to enforce the Labor Department’s fiduciary rule and said he would do the same thing under the right circumstances.

Industry participants, investor advocates and others were jolted Thursday when Massachusetts Secretary of the Commonwealth William Galvin charged Scottrade Inc. with violating state law and internal policies by conducting sales contests that failed to adhere to the impartial conduct standards of the DOL rule.

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Originally Posted at InvestmentNews on February 16, 2018 by Mark Schoeff Jr..