News | 06.03.19
U.S. Broker-Dealer Rule Fails to Convince Consumer Advocates
Advocates of more stringent rules for financial intermediaries are braced for disappointment, as the SEC is expected to approve its “best interest” regulation on Wednesday. The new rule is expected to prohibit brokers from placing their interests ahead of those of their customers. However, investor campaigners say the SEC's loose definition of “best interest” protects brokers at the expense of consumers. Many expect lawsuits to be filed against the SEC for failing to safeguard investors.
Read the full article on Financial Times