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Keyword: Best interest standard

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David Gary Durno implemented an active trading strategy for two senior clients that “generated large commissions for himself and his firm but reduced client profits”

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The new requirement would introduce “specific obligations” that would expand financial planners’ obligation to prioritize their clients’ interests

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The group argues that the proposed rule, as it stands, is too weak in certain respects and too ambiguous in others

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Lower revenue and higher compliance costs may force smaller firms out of business and impact advisor compensation

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In its annual statement of priorities, regulator reinforces its commitment to CSA’s proposed reforms and bolstering banking ombudsman

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Industry groups and investor advocates agreed on some of the proposed rules, but opinions were divided on the decision to allow embedded commissions to remain in place

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But regulators are banning DSCs and enhancing regulatory requirements for registrants to avoid situations that place them in a conflict of interest

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Investor Advisory Panel calls on regulators to adopt a “best interest” standard as soon as possible

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Conduct standards in the U.S. brokerage industry remain in flux

  • April 24, 2018 April 24, 2018
  • 15:00
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The U.S. regulator has also proposed introducing a mandatory new disclosure document that sets out the terms of advisory relationships