I challenge any reader of this article to cite an example where broker-dealers urged brokers to avoid conflicts over disclosing conflicts.
SEC
The SEC is Failing to Serve Retail Investors
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.
Report from Knut Rostad on the September 11 meeting.
On Tuesday September 11, Vanguard Founder Jack Bogle and Boston University scholar Tamar Frankel, representing the signatories of the Fiduciary Declaration, met with SEC Chairman Mary Schapiro. In the meeting Chairman Schapiro was presented with the Fiduciary Declaration and Bogle and Frankel addressed their concerns. The twelve signatories of the Fiduciary Declaration, along with Bogle […]
On Dodd-Frank’s 2nd Birthday, Should Investors Celebrate?
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 […]
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 […]
