Mass. Senior Investor Education Conference

June 7, 2013 by  
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finan plan raised wordsFrom: Massachusetts Securities Division

Sent: Monday, May 13, 2013 10:10 AM

Subject: 2013 Survey Regarding Fiduciary Duty

Dear Investment Adviser:

We are contacting you with respect to two important issues.

First, on June 14, 2013, from 8:30 a.m. to 12:00 p.m., the Securities Division is hosting a Senior Investor Education Conference at the State House.  The conference is designed to help seniors avoid fraudulent investments and give them the tools they need to protect their savings.

 We urge you to inform your clients of this free event.  Space is limited and investors wishing to attend must register via our website (link below) or by returning a brochure.  We suggest investors register early to secure a spot.  You can find more information regarding the conference (or register for it) on our website at http://www.sec.state.ma.us/InvestorComplaint/sctconf.aspx.  Brochures regarding the conference are available from our office and are available upon request by calling us at (617) 727-3548.  

Secondly, on Friday, the Division mailed all state-registered investment advisers located in Massachusetts a survey relating to fiduciary duty.  The survey was prompted by a request for information made by the SEC for “data and other information” regarding the fiduciary and suitability standards.  As you may know, the SEC is considering changing the standard of care owed by investment advisers and broker-dealers and making one uniform standard.  By collecting this information from you, we will be able to inform the Commission of investment advisers’ views on the subject, as your firm could be significantly impacted by the Commission’s decisions.  We encourage you to respond candidly to the survey questions in order to provide critical information for the Commission’s consideration.

To ensure your views are incorporated, please complete and return this survey by Friday, May 24, 2013 to the following address:

Massachusetts Securities Division

Attn:  Fiduciary Duty Survey

One Ashburton Place, 17th Floor

Boston, Massachusetts 02108-1552

Alternatively, you may scan and return the survey to this e-mail address.  If you have any questions, please contact the Division at (617) 727-3548.  Thank you in advance for your cooperation.

The Massachusetts Securities Division