The Securities and Exchange Commission has proposed extending a rule that allows investment advisers who are dually registered as brokers to sell stocks and bonds from their firms' product inventories until Dec. 31, 2014. The rule is set to expire this year. "The temporary extension makes sense as long as there is a [uniform] fiduciary rule somewhere in the offing," says Dan Barry, managing director of government relations at the Financial Planning Association. "If a fiduciary rule making is in significant doubt, they should start looking at the temporary principal-trading rule as if it has some permanence."

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