{"id":3016,"date":"2015-06-08T00:00:00","date_gmt":"2015-06-08T04:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/finra-head-sec-should-lead-in-development-of-fiduciary-standard\/"},"modified":"2018-10-08T12:42:20","modified_gmt":"2018-10-08T16:42:20","slug":"finra-head-sec-should-lead-in-development-of-fiduciary-standard","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-head-sec-should-lead-in-development-of-fiduciary-standard\/","title":{"rendered":"FINRA Head: SEC Should Lead in Development of Fiduciary Standard"},"content":{"rendered":"<\/p>\n

Recently, the head of the Financial Industry Regulatory Authority (FINRA)<\/a> told a congressional panel that the Securities and Exchange Commission (SEC)<\/a> should take the lead in the development of a uniform fiduciary duty for broker-dealers and investment advisors. Currently, both the SEC and the Department Labor (DOL) are, independently, developing a uniform standard for stockbrokers and investment advisors<\/a>.<\/p>\n

Uniform Fiduciary Duty<\/u><\/strong><\/p>\n

Before the House of Representatives Financial Services subcommittee, Richard Ketchum, FINRA\u2019s chairman and chief executive, stated that he supports the development of a standard that securities professionals act in the client\u2019s best interest, regardless of whether they are a broker or investment advisor. Further, Ketchum stated that he believes that the SEC should be in charge of the development of this standard, while promising FINRA would provide assistance in this endeavor.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Recently, the head of the Financial Industry Regulatory Authority (FINRA) told a congressional panel that the Securities and Exchange Commission (SEC) should take the lead in the development of a uniform fiduciary duty for broker-dealers and investment advisors. Currently, both the SEC and the Department Labor (DOL) are, independently, developing a uniform standard for stockbrokers […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[578],"tags":[],"class_list":["post-3016","post","type-post","status-publish","format-standard","hentry","category-all-releases"],"yoast_head":"\nFINRA Head: SEC Should Lead in Development of Fiduciary Standard — Securities Arbitration Lawyers Blog — June 8, 2015<\/title>\n<meta name=\"description\" content=\"Recently, the head of the Financial Industry Regulatory Authority (FINRA) told a congressional panel that the Securities and Exchange Commission (SEC) — June 8, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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