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.
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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.
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.