ARNOLD F. SOCK, Attorney At Law Opines On: Scottrade Attorneys Rips Massachusetts Official's Bid To Remand Fiduciary Matter at the State Level
Attorneys for Scottrade Inc. blasted the State of Massachusetts’ top securities official Friday in opposing a bid to litigate an enforcement action at the state level, accusing him of carrying out a personal vendetta of sorts to enforce the U.S. Department of Labor’s upended fiduciary rule for retirement account advisers (U.S. District Cout for Massachusetts Galvin v. Scottrade, Inc. 1:18-cv-10508)..
Scottrade took direct aim at Massachusetts Secretary of the Commonwealth William F. Galvin, calling his attempt to enforce a federal rule at the state level “unprecedented” and saying the Secretary has overstepped his authority.
Prosecutors and Government actors should stay within their jurisdication and not step out of them, except in extremen (usally very rate) circumstances,
Opinion by ARNOLD F. SOCK, Attorney at Law