Los Angeles partner Bruce Ashton was quoted in an InvestmentNews article titled “New York lawmaker works on bill to establish fiduciary duty for advisers in state.” The article discusses New York assemblyman Jeffrey Dinowitz’s proposal to impose a fiduciary obligation on investment advisors in the state.

Bruce comments that “It’s a complex issue, even for regulators who are inclined to go forward.” In reference to “blue states”’ such as California, Oregon and Washington taking a stand against investment-advice rules Bruce said, “It wouldn’t surprise me if any one of those were to take action.”

Read “New York lawmaker works on bill to establish fiduciary duty for advisers in state.”

Source: InvestmentNews
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