Harmonization of Fiduciary Standards: For Broker-Dealers and Investment Advisers

25 Pages Posted: 17 Mar 2018

Date Written: February 12, 2018

Abstract

This paper discusses how the Securities and Exchange Commission might formulate a “best interest” standard of conduct for broker-dealers and investment advisers under the Dodd-Frank Act that would be consistent with the Department of Labor’s best interest contract exemption, the trust law standard in the Uniform Prudent Investor Act, and FINRA’s Suitability Rule.

Keywords: Best Interest, Standard of Conduct, Fiduciary, Broker-Dealer, Investment Adviser, Uniform Prudent Investor Act, Finra Suitability Rule, Harmonization, Regulation, Department of Labor, Bic

Suggested Citation

Fein, Melanie L., Harmonization of Fiduciary Standards: For Broker-Dealers and Investment Advisers (February 12, 2018). Available at SSRN: https://ssrn.com/abstract=3140694 or http://dx.doi.org/10.2139/ssrn.3140694

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