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February 1, 2011
Ketchum Says Fiduciary Standard for Dealers no earlier than mid-2012
FINRA CEO Richard Ketchum predicted that registered representatives would operate under a fiducary standard no earlier than the second half of 2012, because of the need for an implementation process at the SEC. In addition, if FINRA is designated as the SRO for investment advisers, it would create a discrete board to take responsibility for investment adviser issues and build a new staff knowledgeable in that area to oversee investment advisers. He made his remarks at the annual meeting of the Financial Services Institute. InvNews, Fiduciary standard not happening until mid-2012: Ketchum
February 1, 2011 in Professional Announcements | Permalink
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