FINRA chief urges 1 fiduciary standard for RIAs, broker-dealers

10/26/2009 |

Richard Ketchum, chairman and CEO of the Financial Industry Regulatory Authority, says independent broker-dealers and registered investment advisers should be subject to the same fiduciary standards. "I do think it is important to have a single standard, and every decision and recommendation should be in the best interest of the customer," he said. Ketchum also reiterated FINRA's position that the agency should have the power to supervise investment advisers.

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