The case for a real fiduciary standard is a case for the values and principles that are vital, self-evident and indisputable – like the values that inspired our nation’s founders. And that the country heard last month in eulogies for George H. W. Bush.
Jack Bogle richly deserves the huge accolades he is receiving. He was a model public servant operating in the private sector.
If passed, the SEC’s 125,993-word proposed Reg Best Interest (“Reg BI”) will harm investors and greatly change the competitive landscape for brokers and advisors.
Putting choice ahead of professional conduct, the RBI buffet embraces the junk food Mr. Cohn champions.
Letter from Knut A. Rostad of the Institute for the Fiduciary Standard to SEC Chairman, Jay Clayton, regarding the Regulation Best Interest on August 6, 2018.
I challenge any reader of this article to cite an example where broker-dealers urged brokers to avoid conflicts over disclosing conflicts.