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While the vote is a vital step in advancing new standards and disclosures that would impact all broker-dealers and investment advisers, it still marks the early stages of what is setting up to be a contentious debate over what a final rule should look like. (Photo: AP)

The Securities and Exchange Commission voted today to release a three-pronged proposed rule for public comment that would change the standard of care broker-dealers owe retail investors, require new client disclosures for all investment providers, and reinterpret the requirements of fiduciary advice.

Nick Thornton

BenefitsPRO

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