Yesterday the New Jersey Bureau of Securities (“NJBOS”) issued its Rule Proposal titled “Fiduciary Duty of Broker-Dealers, Agents, Investment Advisers, and Investment Adviser Representatives”. Below is a link to the Press Release, which in turn includes a link to the Rule Proposal itself. The Rule Proposal would amend existing section N.J.A.C. 13:47A-6.3 and then add new section N.J.A.C. 13:47A-6.4.
https://www.njconsumeraffairs.gov/News/Pages/04152019.aspx
We have reviewed the Rule Proposal and identify the below highlights. The public comment period on the Rule Proposal ends June 14, 2019. The Rule would take effect 90 days after a Notice of Adoption is published. Let us know if we can be of any help, even if it is just to talk through the new proposed requirements.Continue Reading New Jersey Issues Rule Proposal on Uniform Fiduciary standard