MSRB: Proposed rule would hold municipal advisers to a fiduciary standard
Under a rule proposed by the Municipal Securities Regulatory Board, municipal investment advisers would be held to a…
Under a rule proposed by the Municipal Securities Regulatory Board, municipal investment advisers would be held to a fiduciary duty standard of care, requiring them to act in the best interests of state and local governments and other municipal entities and to disclose their conflicts of interest. The rule also proposes that excessive compensation could constitute a breach of fiduciary duty. Here’s the proposed regulation. Here’s a related story.
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