Broker-dealer Scottrade has been charged with violating the impartial conduct standards of the DOL fiduciary rule. (Photo: AP)

The Massachusetts Securities Division charged Scottrade on Thursday with violating the impartial conduct standards laid out in the Labor Department’s fiduciary rule, which took effect on June 9, 2017.

Commonwealth Secretary William Galvin, the state’s top securities regulator, charged the broker-dealer with “dishonest and unethical activity and failure to supervise” for conducting sales contests that violated Labor’s impartial conduct standards.

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