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SEC sets date to debate its own fiduciary duty rule

Joe Mont | April 13, 2018

After months of speculation, the Securities and Exchange Commission is poised to inject itself in the controversial effort to create a fiduciary duty rule for broker-dealers and investment advisers.

The Commission has scheduled an open meeting on Wednesday, April 18, at 3:30 p.m. The session will include discussions, and potentially action, on:

  • whether to propose new and amended rules and forms to require registered investment advisers and registered broker-dealers to provide a brief relationship summary to retail investors;
  • whether to propose a rule to establish a standard of conduct for broker-dealers and natural persons who are associated persons of a broker-dealer when making a recommendation of any securities transaction or investment strategy involving securities to a retail customer;
  • whether to propose a Commission interpretation of the standard of conduct for...
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