The Securities and Exchange Commission, after over a year of “study,” still cannot pull the trigger on new investor-protection rules it was tasked with implementing under the Dodd-Frank Act. The proposed “fiduciary duty” rule would raise the standard of conduct for financial advisors in their dealings with investors. After plenty of wrangling, the securities industry and investor groups have finally blessed the new rule, but the SEC has failed to act. There is no more time to wait, and if a new Presidential administration were to take over, the rule could be scotched altogether. Read Forbes article here.
