Read the complete article on the Wall Street Journal (paywall)
Stockbrokers will soon have to disclose more about conflicts of interest that can bias investment advice under a government plan favored by Wall Street.
The Securities and Exchange Commission plans to vote on a final rule on June 5, the agency said on Thursday. It is expected to adopt a plan that is similar to a proposal it issued in April 2018, according to a person familiar with the matter.
The Institute’s Rostad noted for the Journal’ …
“We started with promises to raise standards,” said Knut Rostad, president
of the Institute for the Fiduciary Standard, which advocates for stricter
financial-advice rules. “We ended with raised rhetoric to rebrand and
protect broker sales and distribution.”