Fiduciary Rule - Is NJ taking the lead? And SEC testimony! All last week

Due Diligence Works
HubSpot Video

Governor Murphy Marks 10 Year Anniversary of 2008 Financial Crisis by Announcing Plan to Require NJ Financial Industry to Put Customers' Interests First

---->Click for more on NJ "Fiduciary Rule"

Testimony on “Oversight of the SEC’s Division on Investment Management”

Excerpt from testimony:

[Clearer and simplified disclosures]

Variable Annuities – [sub accounts and riders will require more due diligence and clearer disclosures] "the products typically offer a number of underlying fund investment options that have their own fees, and often include a variety of optional features, like living benefit riders that have additional investors better understand these products' costs and risks....."

Use of Derivatives by Registered Funds and BDCs [will have more focus and scrutiny]

The proposed rules also would restrict standalone broker- dealers and their financial professionals from using the terms "adviser" and "advisor."

---->Click to see full testimony

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