Date: August 25, 2017
Issue: Regulatory Reform
To: Ms. Diana Foley, Securities Administrator, Office of Secretary of State, Nevada
Filing Type: Joint Letter
Details: The U.S. Chamber of Commerce, along with eleven other trade associations, submitted a joint letter expressing concern on SB 383. This legislation, signed by the governor of Nevada, removes the exemption for broker-dealers, investment advisers, and sales representatives from the definition of "financial planner" thereby extending financial planner-specific duties and liabailities to them. The letter outlines primary concerns that we hope they will take into account while drafting proposed regulations for the new law.