Regulation Best Interest

Lawmakers praise the spirit of the rule, but want to see a true uniform fiduciary standard.

Disparate voices in the fiduciary debate agree that Form CRS might be too dense and complex to achieve meaningful disclosure.

Fiduciary advocates lament the absence of the term from the SEC's rule, which they say fails to move beyond FINRA’s existing suitability standard, while the brokerage sector sees the proposal as a welcome jump in oversight.

Keeping brokers and advisors on a separate regulatory track could preserve the “competitive advantage” that RIAs enjoy, says Schwab exec.

The CEO of Pershing Advisor Solutions sees an opportunity for RIAs in the potential restrictions on a term that has stoked criticism.

Investment advisors and broker dealers have different “relationship models” with clients, the chairman says.

What should advisors expect from the upcoming regulation?

The brokerage sector and investor advocates are gearing up for a fight over broker provisions.

The departure might slow SEC Chairman Jay Clayton’s progress on creating stricter standards of conduct for brokers and advisors.