SIFMA: Replace ‘fiduciary duty’ with ‘universal standard of care’
Terms such as “fiduciary duty” and “suitability” contribute to investor confusion, and they should be replaced by a “universal standard of care” for brokers, says SIFMA.
Terms such as “fiduciary duty” and “suitability” contribute to investor confusion, and they should be replaced by a “universal standard of care” for brokers and investment advisers, Securities Industry and Financial Markets Association president and chief executiv
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