Possible SEC fiduciary plan misses the point, advocate says

04/24/2013 | InvestmentNews (free registration)

One possible avenue that the Securities and Exchange Commission is pursuing as part of an upcoming fiduciary-standards proposal could concentrate on exposing conflicts of interest, instead of avoiding them. Such an approach would have negative consequences for investors, according to one fiduciary advocate organization. Changing the emphasis from avoidance to disclosure would effectively remove fiduciary duties, the organization wrote in a letter to the SEC.

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