ADISA Calls on NJ Constituents to Take Action on Proposed Fiduciary Duty Rule

Jun 07, 2019

Right now, the New Jersey Bureau of Securities is considering a proposed regulation that will impact all Broker-Dealers and their registered representatives in the state. As currently written, this proposal adds multiple new legal requirements that are likely to negatively impact Broker-Dealers and advisors, while also harming clients.

ADISA has created a petition and asked our New Jersey constituents, whether located in or doing business in the state, to lend their support to amend this proposal by signing the petition and adding any additional comments or insights important to them or their firms.

“We seek to help the State adopt regulation that protects savers and investors while ensure that all such savers and investors can access financial advice and appropriate investment options,” said John Grady, DLA Piper and ADISA’s lead on the issue. “With this petition, we want to bring in the voices of New Jersey’s financial professionals into the discussion. Financial services professionals help New Jersey residents achieve their retirement savings and other goals, and should have their views heard by the State.”

ADISA has initiated this petition as a means of conveying the unified voice of the investment community to these regulators. The petition drive will end on June 13 in order to ensure it is submitted by June 14, 2019, the last day for comments on this proposed rule.

ADISA believes, by raising our collective voice, we can effect change.

For more information on ADISA’s urging to clarify New Jersey’s proposed fiduciary rule regulation, visit