SEC commissioner issues statement in favor of fiduciary standard:

05/17/2010 | InvestmentAdvisor.com

SEC Commissioner Luis Aguilar issued a statement supporting the extension of a fiduciary standard to broker-dealers in response to a speech excerpt that he said was used out of context. "I am issuing this statement to be clear as to my position -- it is in the best interests of investors and our markets for broker-dealers who provide investment advice to be held to the fiduciary standard that is currently applied to investment advisers," Aguilar said.

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