Sen. Dodd's decision frees him to push fiduciary harmonization

01/11/2010 | InvestmentNews (free registration)

The decision to retire by Christopher Dodd, chairman of the Senate banking committee, makes it easier for him to push proposals that would bring brokers and investment advisers under the same fiduciary standard, insiders said. Dodd released draft legislation in November that would require brokers who provide investment advice to register and abide by fiduciary rules outlined in the Investment Advisers Act of 1940.

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