Same-sex marriage’s journey from minority status to the law of the land offers important lessons about gaining broad-based public support that fiduciary advocates can gain from.
Statement of Knut A. Rostad On “Best Interest” and SIFMA’s “Proposed Best Interest of the Customer Standard For Broker-Dealers”
The “Best Interest” standard is central to the regulation of advisers and brokers. It’s key to the DOL COI proposed rule and recent SEC statements and decisions. Now, a Securities Industry Financial and Markets Association (SIFMA) statement discusses conflicts of interest, disclosure and fee transparency. Despite its obvious importance, federal policy makers and regulators still have not affirmed or promulgated a view of the “Best Interest” standard as drawn from the Advisers Act and common law.
Chris Cannon at the CFA Institute Event in Orlando
Institute Best Practices Board member, Chris Cannon, right, greets CFA Institute CEO, Paul Smith, at a recent CFA Institute event in Orlando.
Conflicts of Interest and the Duty of Loyalty at the Securities & Exchange Commission
SEC Chair Mary Jo White’s recent statement that the SEC should proceed with rule-making on a uniform fiduciary standard focuses attention on what such a rule may entail.
The WSJ ‘s Public Service on Fiduciary Standard: Lifting the Veil
Wall Street Journal editors performed a public service when they set out their case against the fiduciary standard recently. The editorial shines a bright light on arguments against the fiduciary standard that the brokerage industry, understandably, tries to keep under wraps.
Fiduciary Best Practices: Talking to the Mailman in Kansas City
Last week the Institute for the Fiduciary Standard proposed eleven Best Practices for advisors and brokers who seek to meet the true fiduciary standard. While these Best Practices are crafted to mainly assist investors in evaluating investment and financial professionals on their adherence to fiduciary duties, they also serve a larger purpose.
