Fiduciary Standard Debate Prompts Dispute at SEC

WASHINGTON -- The SEC's work on creating a uniform standard of care for brokers and investment advisors serving retail investors remains the subject of considerable discord within the commission, according to a top official.

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Comments (2)
Unbelievable! The financial services has been unable, or refused to present valid evidence to support all of its "hardship" claims. FINRA says reps must meet "best interests" standard, so cost is bogus (or admission of non-compliance. Other claims pure speculation.
Posted by James W | Tuesday, May 20 2014 at 1:01PM ET
Anyone giving advice -- or, who holds themselves out as an advisor -- should be held to a fiduciary standard. The rule is simple, bright line, and avoids any confusion on the part of the advisor or the client.
Posted by SCOTT C | Wednesday, May 21 2014 at 8:03AM ET
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