SEC Report May Urge U.S. Brokers to Adopt Fiduciary Standard for Clients
According to a report from Bloomberg, the SEC is currently debating whether to make recommendations to Congress in its reports (due next week) on the regulation of brokers and advisers. The report also notes that the SEC is considering recommending that Congress enact legislation authorizing the SEC to designate a self-regulatory organization for investment advisers, and notes that SEC Chairman Mary Schapiro has recused herself from this question, due to her previous status as head of FINRA.
Date
January 14, 2011