FINRA head calls for voluntary disclosure by broker-dealers

05/10/2010 | Registered Rep.

Broker-dealer firms should voluntarily offer more disclosure, regardless of the outcome of efforts in Congress to overhaul financial regulation, according to FINRA Chairman and CEO Richard Ketchum. "FINRA supports a fiduciary standard for broker-dealers that provide personalized advice. But even if Congress does not immediately impose such a standard, I do not believe that FINRA and the industry can stand back as if we have learned nothing from recent history," Ketchum said.

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