Massachusetts' Novel 'Fiduciary Duty Rule' for Broker-Dealers Could Lead to 'Patchwork of Regulation' in Other States
“There was always the possibility that this could happen, so I don’t know necessarily that it’s surprising, but I would say that the repercussions are important and significant,” said K&L Gate partner Pablo Man of the recent decision dismissing Robinhood Financial’s challenge to Massachusetts’ “fiduciary duty rule.”