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Part II: Tick, tick ... How FINRA tramples on 'settled' principles of the Supreme Court, and even Adam Smith, in its sanctification of two-hatted advice

The 'best interests' standard of the stock cop ignores classical arm's-length principles, of economics and the law, implicit to the entrusting of care to professionals by evoking wonders of bare-knuckles capitalism

Author Guest Columnist Ron Rhoades February 1, 2016 at 8:13 PM
1 Comment
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Mark Egan: Holding brokers to a fiduciary standard over the period 2008-2012 would have increased investor returns by as much as 2.73% per annum.

RIA Compliance

Stephen Winks

Stephen Winks

February 3, 2016 — 5:59 PM

Of course Ron Rhoades is absolutely correct in his assertion of the facts pertaining to fiduciary duty. What is so frustrating is there are no disputing these facts, yet Regulators like FINRA never seem to do their duties to protect public trust. The widely held view that the system is rigged in favor of the industry rather than the consumer and public trust is gaining momentum with each day. Why is it that Ron Rhoades has to work so hard to convince everyone to do the right thing? Thank goodness for Ron Rhoades !
Stephen Winks

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