The proposed legislation is another effort by the brokerage industry to prevent investors from being protected by a fiduciary standard, maintains David Tittsworth, CEO of the Investment Adviser Association.
Estimated reading time: 0 minutes, 22 seconds
Bill Blocking Fiduciary Standard to Hit Dead End
A House spending bill that would prevent the Securities and Exchange Commission from using federal funds to create a fiduciary standard for brokers won’t survive in the Senate and would probably be vetoed by President Obama. So reports ThinkAdvisor.
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