In a July 5 comment letter to the SEC about a potential uniform fiduciary standard, the Institute for the Fiduciary Standard urges the SEC to not abandon its heritage embodied in the Advisers Act, and to not neuter the fiduciary standard.
This call is based on the Institute’s analysis of assumptions on which the SEC may base a new uniform standard, which represents a sharp departure from the principles, precedents and practices of the Advisers Act.
The Institute’s public SEC comment letter (PDF) is visible here.