Chapter 110A of the General Laws is hereby amended by adding the following 2 sections:-
Section 418. Anyone registered under this chapter shall adhere to the fiduciary standard and at all times act in the best interests of the registrant's clients.
Section 419. Anyone registered under this chapter shall not receive conflicted remuneration. For the purposes of this section, conflicted enumeration is defined as any benefit, whether monetary or non-monetary, given to a registrant who provides financial product advice to clients that, because of the nature of the benefit or the circumstances in which it is given: (i) could reasonably be expected to influence the choice of financial product recommended by the registrant; or (ii) could reasonably be expected to influence the financial product advice given to clients by the registrant.
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