Treasury Proposes New Law for Investment Advisors

The SEC would have the authority to require a fiduciary duty for any broker, dealer or investment advisor who gives investment advice about securities, aligning the standards based on activity. In addition, the SEC would be empowered to examine and ban forms of compensation that encourage financial intermediaries to steer investors toward products that are profitable to the intermediary, but not in the investors’ best interest.

Treasury Proposes New Law for Investment Advisors
Source: Financial-Planning.com