Single fiduciary standard fails to make SEC priority list

09/10/2012 | Bloomberg

Wall Street, led by SIFMA, and consumer advocates have found common ground on the need to implement a uniform fiduciary standard for brokers and investment advisers. "SIFMA is very much in favor of establishing a new uniform fiduciary standard for both brokers and advisers where they're basically doing the same thing for retail customers," said Ira Hammerman, general counsel for SIFMA. "There are literally trillions of dollars of individual savings and investments that we're talking about here." However, the measure appears to be stalled at the Securities and Exchange Commission. Learn more at SIFMA's Fiduciary Standard Resource Center.

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