Key SEC figure appears to favor a single fiduciary standard

09/27/2010 | InvestmentNews (free registration)

Jennifer McHugh, who is leading the Securities and Exchange Commission's study of a fiduciary standard, appears to be leaning toward a single fiduciary duty for brokers and investment advisers. "Retail investors expect that advice is given in their best interest," McHugh said. "We need to think about how to make the standard meet their reasonable expectations."

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