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.
Advising in an intimate relationship of two differs markedly from offering incidental advice in a sales relationship of three. This is what the SEC needs to know to close the gap and create a standard retail investors would reasonably expect.
The SEC will have an open meeting on Wednesday, April 18, 2018, to vote on and release a proposed rule on conduct standards for brokers and advisers. The Institute has submitted two comment letters and met with commissioners and staff. Here is a brief on what we expect and will look for regarding a standard for brokers and title reform.
The CFP Board set out in its proposed standards fiduciary duties for all advice. Its statements are clear and strong. This is an important step. But alone, it falls very short. Why?