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Massachusetts high court upholds state fiduciary rule covering brokers
Decision strikes blow against online brokerage Robinhood but is hailed as a 'Fenway Park Red Sox grand slam home run' by fiduciary advocate.
Robinhood loses bid to halt enforcement of Massachusetts fiduciary rule
The online trading app sued to overturn the state's fiduciary rule after Massachusetts accused Robinhood of manipulating customers.
Robinhood sues to overturn Massachusetts fiduciary rule
Meanwhile, Massachusetts amended its December complaint against the online brokerage seeking to revoke its registration in the state.
State fiduciary rules slow down amid pandemic, political transition
Efforts to implement fiduciary rules in New Jersey, Nevada and Massachusetts are in limbo
Robinhood under pressure for bringing ‘gamification’ to investing
The free trading app has been applauded for democratizing the market but critics, and regulators, are starting to take a closer look
Robinhood isn’t gamifying the markets. It’s democratizing them
The fintech led a movement to virtually eliminate commissions, cut racial investing disparities in half and dramatically increase stock ownership among investors
Robinhood case to test Massachusetts fiduciary rule
But an investor advocate praises the state for targeting conduct other than outright fraud
Robinhood accused of manipulating customers by Massachusetts regulator
The complaint marks the first time the state's fiduciary rule is being used to bring charges against a brokerage firm
Massachusetts begins enforcing fiduciary rule despite Reg BI
Secretary of the Commonwealth William Galvin could take a more aggressive approach toward advice regulation than the SEC
XY Planning focuses on state fiduciary rules after losing Reg BI suit
XYPN co-founder Michael Kitces says the federal appeals court’s decision to uphold the measure could ‘embolden’ states
Coronavirus pandemic delays final New Jersey fiduciary rule
Governor extends the deadline for regulations until 90 days after the health emergency ends
Massachusetts fiduciary rule won’t cover variable annuity sales
The Securities Division says the state considers VAs to be insurance products, not securities
Massachusetts promulgates final fiduciary rule with some controversial parts removed
But the advice standard would require brokers to act ‘without regard to’ their own financial interests
Brokerage industry opposes Massachusetts fiduciary rule proposal at hearing
Investor-protection advocates don’t expect state to water down measure
