SIFMA embraces new federal fiduciary standard

SIFMA announced today that its Private Client Group Steering Committee unanimously supports a new federal fiduciary standard, which would be developed by the Securities and Exchange Commission, for broker-dealers and investment advisers who provide personalized investment advice. The proposed uniform set of regulatory standards is designed to strengthen safeguards for investors. "Under this new, federal fiduciary standard, it won't matter who is giving the advice -- broker or adviser -- investors will be protected by the exact same federal fiduciary standard when receiving the same services," said SIFMA President and CEO Timothy Ryan.

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