FPA signs letter to SEC on fiduciary standard for brokers

04/1/2012 | InvestmentNews (free registration)

The Financial Planning Association and other groups sent a letter to the Securities and Exchange Commission urging the agency to require brokers to act in the best interests of clients and adjust their business practices rather than create a new approach to fiduciary duty. The agency should extend the current rule instead of making "something new and different," the letter said.

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