Harmonization of Fiduciary Standards: For Broker-Dealers and Investment Advisers
25 Pages Posted: 17 Mar 2018
Date Written: February 12, 2018
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
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