Markets

The Fiduciary Rule’s Little Brother is Growing

Stock Frequency Data Graphic

The Fiduciary Rule's Little Brother is Growing

(Washington)

There was always going to be a big push back against the delay/slow death of the current fiduciary rule. Lawsuits will abound, politicking will happen, but something new-some call it the fiduciary rule's little brother-is now emerging. That little brother is how industry bodies who set standards may be coming together to form a de facto fiduciary rule despite the federal government backing away from it. For instance, the National Association of Insurance Commissioners is now working on new guidelines for members that would put a "best interest standard of care" in its guidelines. The NAIC changes could mean state regulators across the country adopt the same fiduciary standard.

FINSUM : There seem to be quite a few states pushing for a fiduciary standard, and in a worst case scenario, each of them might develop their own slight variations of the rule, leading to a compliance nightmare.

  • fiduciary rule
  • NAIC
  • states
  • DoL
  • SEC

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Personal Finance