This article by Knut Rostad, president of the Institute for the Fiduciary Standard, was recently published in AdvisorOne. An excerpt is below, and the full article is at AdvisorOne.com If the Dodd-Frank Act, passed two years ago, on July 21, 2010, was meant to send a jolt of increased responsibility through the financial services industry, recent […]
Knut's Views
The Times Editorial, Fiduciary Duty and the Levitt Rule
This article by Knut Rostad, president of the Institute for the Fiduciary Standard, was recently published in AdvisorOne. An excerpt is below, and the full article is at AdvisorOne.com The New York Times editorial, “Want to Buy a Mutual Fund?” aptly chose the nation’s 236th birthday on July 4 to underscore the vital role of […]
Does Raymond James Support the Fiduciary Standard … in Practice?
Scott Curtis, president of Raymond James Financial Services, raises an interesting question when he states that while he supports the fiduciary “concept,” he cannot support the fiduciary standard because the standard “hasn’t been defined to the FA level.” This is a curious remark as the principle-based fiduciary standard has been articulated through seventy years of […]
JPMorgan, The Dimon Principle and Fiduciary Duty
JPMorgan CEO Jamie Dimon spoke out quickly against the hedging / betting practices that, it appears, caused the firm’s $2 billion (or more) loss over just a six week period. Dimon stated the hedge was “poorly reviewed, poorly executed, poorly monitored,” and, most importantly, irrespective of whether it violated the Volcker Rule, it most emphatically […]
On Wall Street.com – Institute Takes Issue With SIFMA on Proposed Uniform Fiduciary Rule
The Institute was recently interviewed for an article published in OnWallStreet.com. The full article is here, and an excerpt is below. Despite SIFMA’s public statements that it supports a uniform fiduciary rule for all advisors, the Institute for the Fiduciary Standard believes that the brokerage industry group is really advocating a less stringent brokers […]
Fiduciary Criticism Ignores Both Independent Research and History to Make Case
Mary Kissel’s breezy dismissal of the Department of Labor’s (DOL) efforts to update the 1974 Employee Retirement Income Security Act (ERISA) rule (DOW JONES Political Diary, April 12, 2012,) could be easily dismissed as ideological cocktail party chatter, for its huge misunderstandings and misrepresentations of the facts and the law. Yet, there is far too […]
