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The current Chairwoman of the U.S. Securities and Exchange Commission (SEC) has voiced its opinion that U.S. regulators should be enforcing a set of standardized rules for all broker-dealers. During a congressional hearing, the 31st chair of the SEC Mary Jo White stated that the regulator should propose a harmonized regime for regulating all broker-dealers.
The chair hinted that a unilateral fiduciary standard for broker-dealers and Registered Investment Advisors (RIAs) is already being developed by the U.S. watchdog. The Chairwoman said that raising the standards for advisors is one of the top priorities for her organization and retail investors will benefit ... (read more)