Home » Archive by Tags

Articles tagged with: Clayton

Joint Letter: SEC Broker Proposal Fails To Establish Strong Standard or Mitigate Conflicts
August 7, 2018 – 11:10 am

The rule’s most significant failing is that it does not establish a clear uniform best interest standard, one that is no less stringent than that found in the Investment Advisers’ Act, for all professionals who provide investment advice to retail clients. Instead, it adopts a weaker standard for broker-dealers that falls short of a true best interest standard and does not adequately address the conflicts of interest that too often are permitted to taint broker-dealers’ recommendations.