The revisions come after the Securities Industry and Financial Markets Association urged the SEC to make clear that brokers shouldn't have to notify clients of conflicts each time they make a trade on their behalf.
(Bloomberg) –Wall Street is finally getting tougher rules that crack down on industry conflicts of interest. Bankers are hardly sweating it.
The U.S. Securities and Exchange Commission is poised to approve new requirements next week for selling stocks, bonds and other assets after brokers fended off the government's attempts to restrict shady practices for almost a decade.
But investor advocates are concerned the regulations fall short of what's needed to prevent firms from taking advantage of clients, a worry underscored by the industry's support of the SEC's effort.
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