In a Jan 25. article by IFLR asset management David Tittsworth discusses how individual U.S. states are introducing fiduciary standards, given the Department of Labor’s near-defunct Fiduciary Rule. “In general it is a lot better for industry people to only have one set of rules to deal with, instead of one state saying you have to use red ink, another blue ink,” said Mr. Tittsworth. “These states can continue to move forward but there is a high probability of there being a court challenge to all the state laws or regulations that are being proposed,” he said, adding “It may end up that the courts is where the answers to these questions are decided.”
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