The Securities and Exchange Commission on Tuesday asked the financial services industry to comment over the next 30 days on whether there should be different sets of rules for broker-dealers and investment advisors vis-à-vis personalized investment advice to retail investors.
This is one of the 68 studies required under the Dodd-Frank Act.
“Broker-dealers and investment advisors provide critical financial services to millions of American investors,” said SEC Chairman Mary L. Schapiro. “A system that fairly and effectively regulators these market participants is essential to protecting investors.”
Or, comments may be mailed to: Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, N.E., Washington, D.C. 20549, again referring to File Number 4-606.