Today, the Financial Services Institute will testify before committees in both houses of the Maryland state legislature, regarding the state’s proposed fiduciary rule regarding investment advice and its impact on Main Street investors.
FSI President & CEO, Dale Brown, will testify before the Senate Finance Committee and House Economic Matters Committee regarding FSI’s opposition to S.B. 786 and H.B. 1127.
In his testimony, he will cite how the proposal will drive up compliance costs for financial advisors, ultimately limiting services or increasing costs for investors; that the SEC is the appropriate agency to be addressing this issue and encouraging Maryland to wait until Regulation Best Interest is finalized; and that a uniform standard of care for investment advice is best achieved by imposing equivalent standards on investment advisers and broker-dealers rather than identical standards that do not account for business model differences.
Both the Senate Finance Committee hearing and the House Economic Matters Committee hearing will begin at 1:00 p.m. ET. Links to live webcasts of both hearings will be available on the Maryland General Assembly’s website.
FSI and Broadridge Launch New Video Guide to Help Advisors Better Explain Form CRS to Investors
The Guide can also help facilitate more in-depth and meaningful discussions between advisors and clients Today, the Financial Services Institute […]Read More
FSI Announces 2023 Board of Directors & Executive Committee Members
The Financial Services Institute (FSI) today announced today that it has added five Directors to its Board. The new members […]Read More
FSI Announces Findings of Study Examining Impact of the Department of Labor’s Independent Contractor Rule Proposal
Oxford Economics finds Main Street investors could lose access to financial advice and services due to advisor retirements and inflated […]Read More