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As House and Senate talk compromise, Barney Frank hints at a win for fiduciary advocates

In Washington end game, the fiduciary standard hangs in the balance between Barney Frank and Tim Johnson

Author Elizabeth MacBride June 17, 2010 at 4:45 AM
1 Comment
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Committee Chairman Barney Frank (D-Mass) sees SEC rule-making authority, but after a certain “preparatory” time.

Barney Frank


Tim Johnson


Christopher Dodd


Knut Rostad


David Tittsworth

Stephen Winks

Stephen Winks

June 17, 2010 — 2:10 PM

The proposal/counter proposal process in reconciliation leaves the door open, let’s pray that the wisdom of preserving the public trust prevails and the stewardship of the SEC will shepherd through meaningful regulatory reform holding all that provide investment advice to the fiduciary standard of care, based on objective non-negotiable fiduciary criteria of statute, case law and regulatory opinion letters.

The restoration of the faith and confidence of the investing public in our legislative and regulatory authority’s ability to protect their best interests hangs in the balance.


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