FINRA's Ketchum urges brokers to revisit disclosure practices

10/28/2009 | Wall Street Journal, The

Richard G. Ketchum, head of the Financial Industry Regulatory Authority, said Tuesday that the discussion of a fiduciary standard presents an opportunity for brokerages to revisit their account-opening disclosure practices. For example, Ketchum said, investing in an initial public offering may be in the best interest of a client, "but only if the risks and conflicts are understood."

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