FINRA seeks input on planned compensation-disclosure rules

12/11/2012 | AdvisorOne

The Financial Industry Regulatory Authority is to request public feedback on a controversial rule-change proposal that would require brokers to reveal their compensation packages to their clients. Supporters of the rule say the move would create a level playing field for advisers. "I think this proposal has some legs. ... Clients should receive full and fair disclosure about all direct and indirect costs of doing business with a brokerage firm, as well as conflicts," securities lawyer Patrick Burns said.

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