SEC building Today's vote was the culmination of a debate that's spanned nearly two decades over broker-dealers' standards of conduct and the impact of conflicts of interest on average investors.(Photo: Diego M. Radzinschi/ALM)

The Securities and Exchange Commission voted by a 3-to-1 margin to finalize four agenda items that include new standards of conduct for broker-dealers' recommendations to retail investors, known as Regulation Best Interest, and a new interpretation of investment advisers' fiduciary obligations.

SEC Chair Jay Clayton SEC Chairman Jay Clayton. (Photo: Diego M. Radzinschi/ALM)

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.