Author: Bruce Ferguson

Massachusetts Small Business Owner Opposes Fiduciary-Only Proposal

At a recent hearing in Boston, a long line of local citizens voiced opposition to the Massachusetts Commonwealth Secretary’s proposed elitist fiduciary-only standard for financial advice. This week in the Boston Globe, local business owner Joan Jaeger Gustaff outlined why she opposes the rule, which could become effective within weeks. The people of Massachusetts would be best served … Continue reading "Massachusetts Small Business Owner Opposes Fiduciary-Only Proposal"

NAIC Annuity Initiative Aligns with SEC Reg BI to Protect Consumers

When consumers are considering what to do to save for their future, they should take comfort in knowing that financial professionals have the consumers’ best interests first and foremost in mind when making recommendations. Thanks to recent actions by the National Association of Insurance Commissioners (NAIC), consumers across America are one step closer. Last weekend at … Continue reading "NAIC Annuity Initiative Aligns with SEC Reg BI to Protect Consumers"

State Attorneys General Misguided About SEC’s Regulation Best Interest

The American Council of Life Insurers (ACLI) questioned the purpose and merits of an ill-advised lawsuit by eight attorneys general last week against the Securities and Exchange Commission’s Regulation Best Interest (Reg BI). ACLI supports rules requiring all financial professionals, when making a recommendation, to act in the consumer’s best interest — with care, skill, … Continue reading "State Attorneys General Misguided About SEC’s Regulation Best Interest"

The States Should Partner with Federal and State Regulators on Consumer Protection

The average person changes jobs 10-to-15 times during their career. That’s 10-to-15 different bosses. 10-to-15 different business cards. And 10-to-15 different retirement plans. In most cases, rolling over assets from one retirement plan to another is a fairly seamless process. But if lawmakers and regulators in certain states have their way, rollovers and other transactions … Continue reading "The States Should Partner with Federal and State Regulators on Consumer Protection"