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
Stephen Winks
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.
SCW
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