NJ Fiduciary Rule Would Add To Investment Firms' Burdens

Law360 (May 1, 2019, 3:48 PM EDT) -- New Jersey has issued a proposal for a new rule that would institute a uniform fiduciary standard for broker-dealers and investment advisers registered with the state. On April 15, 2019, the New Jersey Bureau of Securities proposed amendments to Subchapter 6 of Chapter 47 of the New Jersey Administrative Code.

These amendments, including new Section 13:47A-6.4, would impose a uniform fiduciary standard on broker-dealers and investment advisers when they:

Recommend a transaction or an investment strategy;

Recommend opening, or transferring assets to, any type of account; or

Provide investment advisory services.

The rule proposal would substantially heighten the standard of care required by broker-dealers...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!