{"id":1217,"date":"2013-03-22T13:11:43","date_gmt":"2013-03-22T13:11:43","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/03\/finra_ceo_says_now_is_time_to"},"modified":"2022-03-10T16:36:07","modified_gmt":"2022-03-10T22:36:07","slug":"finra-ceo-says-now-is-time-to","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-ceo-says-now-is-time-to\/","title":{"rendered":"FINRA CEO Says Now is Time to Make Investment Advisers and Brokers Adhere to a Fiduciary Standard"},"content":{"rendered":"

\t\t\t\tAccording to Financial Industry Regulatory Authority Chairman and Chief Executive Officer Richard Ketchum, now is the right time to make brokerage firms and investment advisers <\/a>that provide personalized retail financial advice adhere to a uniform fiduciary standard. However, he warned that such a standard, whether by itself or combined with other regulatory harmonization, does not guarantee misconduct will not happen. <\/p>\n

Establishing a uniform fiduciary duty for investment advisers and setting up new oversight for them were both recommended in Securities and Exchange Commission studies that were conducted over two years ago under the order of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Earlier this month, the SEC requested quantitative and economic information to help it decide what that standard of care should be. It also engaged in the conversation of whether investors would benefit more if rules were harmonized in other sectors of investment adviser and broker-dealer regulation, including supervision, firm licensing, advertising, individual qualification, books and records, and others. <\/p>\n

Addressing the Consumer Federation of America earlier this month, <\/p>\n

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

According to Financial Industry Regulatory Authority Chairman and Chief Executive Officer Richard Ketchum, now is the right time to make brokerage firms and investment advisers that provide personalized retail financial advice adhere to a uniform fiduciary standard. However, he warned that such a standard, whether by itself or combined with other regulatory harmonization, does not […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3739,3781],"tags":[],"class_list":["post-1217","post","type-post","status-publish","format-standard","hentry","category-finra","category-investment-advisers"],"yoast_head":"\nFINRA CEO Says Now is Time to Make Investment Advisers and Brokers Adhere to a Fiduciary Standard — Investor Lawyers Blog — March 22, 2013<\/title>\n<meta name=\"description\" content=\"According to Financial Industry Regulatory Authority Chairman and Chief Executive Officer Richard Ketchum, now is the right time to make brokerage firms — March 22, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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