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IAA: Preserve advisers’ fiduciary standard, impose same on broker-dealers

Joe Mont | September 6, 2017

The Investment Adviser Association, a trade association representing investment adviser firms, has submitted a letter responding to SEC Chairman Jay Clayton’s request for comment on the standards of conduct for investment advisers and broker-dealers.

In June, Clayton opened a public comment period that may empower his Commission to either supplement or supplant the Labor Department’s rulemaking.

The IAA “strongly recommends” that the Commission preserve the well-established fiduciary duty for investment advisers under... To get the full story, subscribe now.