Securities Law Commons^™

The Sec's Proposed Uniform Fiduciary Standard For Investment Advisers: An Update, Barry R. Temkin, Matthew Photis

Barry R. Temkin

It has been been three years since the Securities and Exchange Commission, acting under the authority of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, released the results of its study recommending a uniform fiduciary standard for the conduct of registered representatives and investment advisers. While SEC Chair Mary Jo White has proclaimed that adoption of a uniform fiduciary standard as a major regulatory priority, the SEC has yet to promulgate final regulations implementing the change. It is unclear whether or when a universal fiduciary standard will be adopted. Adoption of a uniform fiduciary standard could lead …