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SEC Fiduciary Delay Costing Retirement Investors $1 Billion per Month
Fiduciary News; free registration required Feb. 12, 2013
"Two years ago, the SEC's botched proposal for a uniform fiduciary standard was greeted with a uniform chorus of derision from both Congress and the brokerage industry. The biggest complaint was the alleged 'cost' to investors should the SEC hold brokers to the same standard as it holds Registered Investment Advisers ... The SEC asked the industry to show evidence of this cost, but ... never seemed to provide the promised smoking gun.... [A recent] academic research study ... may have finally supplied the much anticipated evidence of cost -- but with a surprising twist."
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