SEC: Uniform Fiduciary Standard Needed for Brokers and Advisors

The Securities and Exchange Commission recently submitted to Congress a staff study recommending a uniform fiduciary standard of conduct for broker-dealers and investment advisers. The SEC believes that the uniform standard should be no less stringent than currently applied to investment advisers under the Advisers Act when those financial professionals provide personalized investment advice about securities to retail investors. Click here to read the study.