Lawmaker wants a single fiduciary rule for brokers, advisers

04/17/2013 | AdvisorOne

The Securities and Exchange Commission and the Labor Department should establish "one fiduciary standard, period, for investment advisers and brokers," said Rep. Jim Himes, D-Conn., a member of the House Financial Services Committee. Himes says strong ideology and emotions continue to mire the committee's efforts on a financial-services overhaul. He expects no Dodd-Frank Act statutory amendments for at least a year.

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