Analyst: SEC Poised to Take Regulatory Torch From Labor Department
January 17, 2018 by Cyril Tuohy
A Securities and Exchange Commission (SEC) best-interest fiduciary standard for all brokerage accounts is good news for investors, in the view of one Wall Street analyst.
The SEC will likely issue its own fiduciary rule proposal in the next few months after the two newest SEC commissioners were sworn in last week, according to news reports. The good news comes if and when the SEC eclipses the Department of Labor as the lead agency on a best-interest standard, wrote Morgan Stanley analyst Nigel Dally, in a client update.
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