A decision issued last week by the Massachusetts Supreme Judicial Court may have helped clear a path for other states to adopt a confusing “patchwork” of regulation on broker-dealers that provide investment advice to retail customers, two Boston-based K&L Gates partners told Law.com.

On Aug. 25, the state high court unanimously held that Massachusetts Secretary of the Commonwealth William Galvin has the authority to implement a regulation under the Massachusetts Uniform Securities Act known as the “fiduciary duty rule.” The rule would places certain fiduciary duties on broker-dealers and their agents, including when providing recommendations and advice to retail investors. Robinhood Financial challenged this regulation.