SEC guidance is needed to make fiduciary standard tenable

06/14/2013 | InvestmentNews (free registration)

Brokers will shoulder the compliance costs of a uniform fiduciary standard if the Securities and Exchange Commission will spell out how the rules will fit into brokers' business models, said SIFMA managing director Kevin Carroll. The proposed standard would require brokers to act in clients' best interest when giving out investment advice. "What we're saying is articulate the existing fiduciary duty through rules. We need guidance on how an episodic fiduciary duty will work," he said. Learn more at SIFMA's Fiduciary Standard Resource Center.

View Full Article in:

InvestmentNews (free registration)

Published in Brief: