MA H3247

Bill

MA H3247

Relative to the fiduciary duties of investment advisors and brokers

Introduced
01/20/2015

In Committee
01/20/2015

Crossed Over

Passed

Dead
07/31/2016

Introduced Session

189th General Court

Bill Summary

Relative to the fiduciary duties of investment advisors and brokers. Financial Services.

AI Summary

This bill amends Chapter 110A of the General Laws to establish a fiduciary duty for investment advisors and brokers, meaning they must always act in the best interests of their clients. It also prohibits these professionals from receiving "conflicted remuneration," which is defined as any benefit, whether money or something else of value, that could reasonably be expected to influence the financial product advice or recommendations they give to clients. This change aims to ensure that financial professionals prioritize their clients' needs over potential personal gain.

Committee Categories

Business and Industry

Sponsors (2)

Tom Stanley (D)*, John Lawn (D),

Last Action

Accompanied a study order, see H4111 (on 03/28/2016)

Official Document

https://malegislature.gov/Bills/189/H3247

(6 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/189/H3247
Bill	https://malegislature.gov/Bills/189/H3247.pdf

Bill	Bill Name	Last Action	Type
H1606	Relative to the destruction of monuments, graves, and tombstones	Accompanied a study order, see H4706	Similar To
H1607	Creating a pilot program to discourage drinking by individuals under the legal drinking age and to provide a non-criminal disposition process for first offenders, including alcohol education	Accompanied a study order, see H4706	Similar To
H2830	Relative to the Establishment of a Historical Preservation Fund	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
H2831	Designating the song “14 Counties of Massachusetts” as the official county song of the Commonwealth	Read second and ordered to a third reading	Similar To
H2916	To expand the bottle bill	Accompanied a study order, see H4177	Similar To
H4111	Financial Services Study Order	Reported, in part, by H948	Replaced by

Bill > H3247

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary