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Articles tagged with: Regulation Best Interest

Joint Letter: Report to SEC Highlights Disclosure Weaknesses of Broker Standards Rule
December 11, 2018 – 5:30 am

Given the evidence that, after being provided a summary relationship disclosure, investors still cannot fully understand, and in some cases misunderstand, fundamental differences in the nature of the brokerage and advisory relationships and the respective duties they are owed, the different fees they would pay, or how various conflicts of interest can influence the recommendations they receive, a regulatory regime that relies on disclosure for investors to make an informed decision about what type of financial professional to work with and what type of account to use is certain to fail.

AFR Statement: Consumer Groups Criticize SEC Investor-Protection Proposal During Agency Roundtable in Baltimore
September 20, 2018 – 6:15 pm

The SEC’s proposed “Regulation Best Interest” is anything but, a plan for creating a veneer of investor protection that would fail to chase bad practices out of the industry that cost savers $40 billion per year. Many savers fall victim to brokers who steer them into investments that pay lucrative fees but don’t generate the best possible return for investors.