As House and Senate talk compromise, Barney Frank hints at a win for fiduciary advocates
In Washington end game, the fiduciary standard hangs in the balance between Barney Frank and Tim Johnson
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Biz Briefs: SEC cracks down anew on RIA reverse churning ~ Envestnet borrows $350 million to buy its own stock ~ Fidelity is creating a crypto waiting list while exec questions crypto ecosystem
Fed up SEC is ready to take on all nonsense at once; stock shocks, Orwell's new name game; Fidelity hosts a line dance
November 18, 2022 at 2:56 AM
Stephen Winks
The proposal/counter proposal process in reconciliation leaves the door open, let’s pray that the wisdom of preserving the public trust prevails and the stewardship of the SEC will shepherd through meaningful regulatory reform holding all that provide investment advice to the fiduciary standard of care, based on objective non-negotiable fiduciary criteria of statute, case law and regulatory opinion letters.
The restoration of the faith and confidence of the investing public in our legislative and regulatory authority’s ability to protect their best interests hangs in the balance.
SCW
