AICPA and other industry groups press SEC on fiduciary standards for brokers

06/10/2013 | OnWallStreet.com

In a letter to Securities and Exchange Commission Chairwoman Mary Jo White, the AICPA and other industry groups expressed concern over several aspects of a proposed uniform fiduciary standard for brokers. The letter called for a standard that would be "no less stringent" than the one to which investment advisers are held and stressed the importance of key elements such as the obligation to act in the best interest of the customer. White has promised to review comments on the issue, which were submitted upon the SEC's request for input from industry members.

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