Securities and Exchange Commission Chairman Mary Schapiro said in a speech on Friday that she personally backs a blanket fiduciary standard for advisors.
In a speech before the Society of Corporate Secretaries and Governance Professionals in Chicago on July 9, Schapiro said “I have long advocated such a uniform fiduciary standard and I am pleased the legislation would provide us with the rulemaking authority necessary to implement it,” referring to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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