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Wall Street's Whipping Boy and a World Without a Fiduciary Standard
Ron A. Rhoades, JD, CFP in Fiduciary News Link to more items from this source
Jan. 14, 2014
"Congress and the government agencies are visited by anti-fiduciary advocates more than 20 times the visits seen by pro-fiduciary advocates. Wall Street's investment banks have committed to each other to spend hundreds of millions of dollars, if that is what it takes, to defeat the application of the fiduciary standard to the investment advisory activities of broker-dealers. If the SEC ever acts on the authority granted it under Section 913 of Dodd Frank ... the fiduciary standard for all who deliver investment advice will be lowered to 'suitability plus a bit more disclosure.'"

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