"[T]he state claims Scottrade ignored the policies and procedures it put in place ... to comply with the DOL rule. By ignoring those policies, the state claims Scottrade violated state laws by conducting transactions in bad faith... The Trump administration advised early in 2017 that it would not be pursuing enforcement of the fiduciary rule as long as companies were acting 'in good faith' to comply. But few could have foreseen a situation in which state regulators would seize on lax compliance with the federal regulation as an impetus for state charges[.]"  MORE >>