Adviser groups worry that SEC will weaken fiduciary standard

06/7/2013 | Financial Advisor online · AdvisorOne

The Securities and Exchange Commission appears to be moving away from existing fiduciary standards for investment advisers, based on a proposal issued in March, warns a coalition of adviser groups. In a letter to SEC Chairwoman Mary Jo White, the groups, which include the Financial Planning Association, said they "fear that it would significantly weaken the fiduciary standard for SEC-registered investment advisers, while adding few new protections for investors who rely on broker-dealers for investment advice."

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Financial Advisor online · AdvisorOne

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