Insights from the experts in investment fiduciary responsibility.

Fiduciary Links: Aikin Comments on Unusual Actions of the SEC & Final Survey Call

Posted by fi360 Team on April 01, 2013

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>>>>In his most recent column for InvestmentNews, SEC on a Fiduciary Fishing Expedition, fi360 President & CEO Blaine Aikin commented upon the recent, unusual actions of the SEC. The agency issued a "request for data and other information" in advance of proposing a rule. The rule is one that would affect that standard of care given to retail customers by broker-dealers and investment advisers when providing personalized investment advice about securities.

Aikin wrote, "That the SEC finds itself unable or unwilling to formulate a rule on this issue is troubling."  In Aikin's column it becomes clear that a lot hangs in the balance of this rule, including the fiduciary standard of care owed to retail clients. Aikin closed by saying, "Industry practices should be adapted to uphold the fiduciary duties of loyalty and care, not the other way around."

>>>The annual fi360-AdvisorOne Fiduciary Standard Survey has been extended until Friday. This is your last chance! Please take a few minutes to complete the survey. It will help us track trends regarding the fiduciary standard and help AdvisorOne generate some coverage of fiduciary issues.

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