Securities regulator questions need for new broker standard

A plan that could ultimately require certain securities brokers to act in their client’s best interests should not proceed unless an economic analysis demonstrates it is necessary, a top U.S. securities industry regulator said Tuesday. “I’m far from sure about” whether such an analysis would lead to that conclusion, said Daniel Gallagher, a commissioner with the U.S. Securities and Exchange Commission, in remarks on Tuesday. More on Reuters here.

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