Should Brokers Be Subject to a Blanket Fiduciary Duty?

SEC Commissioner Luis Aguilar seems to think so. In a January 10 speech before a NASAA conference, he indicated that broker-dealers that provide advice should be subject to a fiduciary duty akin to that imposed on investment advisers. “One area to watch closely is the regulation of broker-dealers who provide investment advisory services,” said Aquilar. […]
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