Taft, SIFMA continue push for federal fiduciary standard

11/17/2009 | Star Tribune (Minneapolis-St. Paul, Minn.)

The securities industry embraced the idea of a single fiduciary standard that covers all who provide personalized investment advice. "There's no question that this will make the rules clearer," said John Taft, CEO of RBC Wealth Management and incoming chairman of SIFMA. "We say let the [Securities and Exchange Commission] write the rules that will supersede all the state regulations and the different court decisions that have established case law over the years. The securities industry supports the harmonious standard of care for personal investing provided it doesn't compromise client choice."

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Star Tribune (Minneapolis-St. Paul, Minn.)

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