SEC is gearing up for fiduciary mandate, Walter says

02/18/2013 | AdvisorOne

Securities and Exchange Commission Chairwoman Elisse Walter told the Senate banking committee last week that the SEC is seriously considering a rule in which brokers would have a fiduciary mandate. She said the agency was drafting a public request for information on the provision of retail financial advice and regulatory alternatives, and probably would seek public comment within two months.

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