WASHINGTON -- Advocates for stronger fiduciary rules are calling on the head of the SEC to move forward with a proposal to impose a uniform standard of care for brokers and investment advisors, even if that means pushing the rules through a divided commission split along party lines.
On a conference call to kick off what they have dubbed "Fiduciary September," supporters of a uniform standard acknowledged that there is no consensus on the issue within the SEC for what they see as a common-sense investor protection -- that financial professionals serving the retail market should dispense advice that's in the best interest of their clients.
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