SEC is told to hold off on the fiduciary-duty rule by GOP lawmakers

03/20/2011 | AdvisorOne

Republican members of the House Financial Services Committee issued a letter to the Securities and Exchange Commission asking for a delay in rule-making on a uniform fiduciary duty for advisers and brokers. The lawmakers argue that the agency does not have enough information to support making the rule at this time. The SEC should first study how the standard would affect consumers and the industry as a whole, the group said.

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