SEC puts fiduciary proposal for brokers on hold for study

01/13/2012 | Bloomberg

Securities and Exchange Commission Chairman Mary Schapiro has said in a letter that the commission is conducting further analysis of the costs and benefits of a fiduciary rule for brokers, resulting in a delay in the SEC's proposal. The SEC is trying to determine the financial effects of the rule, which would go beyond the current requirement for brokers to give clients advice that is "suitable" at the moment of sale.

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