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SIFMA Seeks to Protect Business Model Where Client Serves Broker, Not the Fiduciary Model Where the Broker Protects the Client
Kathleen McBride in Fiduciary News Link to more items from this source
[Opinion]
Jan. 22, 2014
"SIFMA has proposed to SEC a 'universal fiduciary standard,' which according to SIFMA's own blueprint is nothing more than their current lower sales or suitability standard, but masquerading as 'fiduciary.' No mention of the fiduciary principles [described earlier in this article]. SIFMA says extending the fiduciary standard to brokers would limit access to advice, limit access to securities products and cost investors more. None of those assertions is true."

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