I recently read a great article written by Mark Schoeff at InvestmentNews.com. Please see below.
Collins' amendment to financial reform legislation in Senate could go beyond House provision
As Senate floor debate on financial regulatory reform begins, a key Republican senator could revive the push for a broad fiduciary standard for broker-dealers.
Sen. Susan Collins, R-Maine, plans to offer an amendment on fiduciary standards that could be more sweeping than a controversial proposal in a House bill passed last year.
An aide to Ms. Colllins said that specific language for a specific amendment has not yet been drafted. But at two hearings this week, Ms. Collins indicated that she may favor imposing fiduciary requirements on broker dealers for both retail and institutional investors.
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To read the rest of the article, please go to the InvestmentNews.com link.
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