WASHINGTON BUREAU — The Consumer Federation of America (CFA) says opponents of a uniform fiduciary standard have provided no evidence that a uniform standard would increase the cost of investment services.
Barbara Roper, director of investor protection at the CFA, Washington, is urging members of the House Financial Services Committee to let the U.S. Securities and Exchange Commission (SEC) proceed with making a rule that would apply a fiduciary standard on brokers as well as financial advisors.
"The SEC has proposed a way to move forward on fiduciary duty that maximizes investor protections while minimizing industry disruption," Roper says in a letter sent to members of the committee.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
