Simply the Best (Interest) - SEC Proposes New Broker-Dealer Standard and Additional Related Guidance

August 03, 2018
Bloomberg BNA

Spurred on at least in part by the Department of Labor’s efforts that led to the now-defunct amended fiduciary rule (DOL Rule), the Securities and Exchange Commission has proceeded to move forward in crafting a series of proposals focused on the ‘‘best interest" of certain customers of brokers and advisers who turn to these securities professionals’ recommendations or investment advice as well as the provision of basic information to retail clients and customers of advisers and broker-dealers about the nature of the services provided thereby. These proposals (SEC Proposals) were ultimately released for comment on April 18, 2018.

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