Experts: Courts already recognize broker-dealers' fiduciary duty

04/26/2013 | Financial Advisor online

The Securities and Exchange Commission continues to consider a fiduciary standard for broker-dealers, but arbitrators and the courts already recognize such a responsibility in many cases, according to three fiduciary-law experts. The basis for that determination typically hinges on a broker's amount of discretion with a customer's money, as well as the broker's financial expertise, experts say.

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