Washington, D.C. – CFA submitted a comment in support of a proposal from the Massachusetts Division of Securities to hold all broker-dealers and investment advisers to a strong, uniform fiduciary standard of care. CFA praised the proposal for providing necessary investor protections absent from both “Regulation Best Interest,” the new federal standard, adopted by the SEC last June, and a proposed model rule for annuities sales under consideration by the National Association of Insurance Commissioners. "The proposal you have put forward is a strong, pro-investor rule that provides a model for other states to follow. We urge you to adopt it without weakening amendments,” CFA wrote.