Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Saturday, March 2, 2013

SEC Requests Comments on Standards of Conduct for Investment Advice Providers

The SEC has been promising it for some time, and on March 1 it finally released a request for data and other information relating to the benefits and costs of standards of conduct applicable to broker-dealers and investment advisers when they provide personalized investment advice about securities to retail customers. According to the release ( Download 34-69013):

Specifically, the SEC is requesting data and other information from the public and interested parties about the benefits and costs of the current standards of conduct for broker-dealers and investment advisers when providing advice to retail customers, as well as alternative approaches to the standards of conduct.

While the SEC is particularly interested in receiving empirical and quantitative data and other information, all interested parties are encouraged to submit comments, including qualitative and descriptive analysis of the benefits and costs of potential approaches and guidance.

The SEC recognizes that retail investors are unlikely to have significant empirical and quantitative information, and welcomes any information they would like to provide.

http://lawprofessors.typepad.com/securities/2013/03/sec-requests-comments-on-standards-of-conduct-for-investment-advice-providers.html

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