Reg BI is now a reality. How do independent real fiduciary advisers effectively differentiate what they do from what the brokerage industry says?
Does Reg BI really hold brokers to a higher standard than investment advisers?
Despite the brokerage industry’s praise, Regulation Best Interest is nowhere near as strong as the fiduciary standard.
Swipe left on the SEC’s investor-protection rule
After showing early promise to fix industry self-interest, Reg BI has turned into a symbolic gesture by the SEC.
Advisers, experts either hate SEC advice reforms or love them
“The Regulation Best Interest rules are a catastrophe for investors that will become known as Black Wednesday,” Knut Rostad said after emerging from the SEC meeting. “Investors will have to search even more diligently for real fiduciary advisers.”
SEC’s Regulation Best Interest
Knut Rostad, president of the Institute for the Fiduciary Standard, told ThinkAdvisor at the SEC meeting that it is a “catastrophe that will be remembered as black Wednesday.
Wall Street sees a win in SEC’s crackdown on broker conflicts
Knut Rostad, the president of the Institute for the Fiduciary Standard, said the new SEC rules will give investors a false impression that brokers are being held to higher standards.
