In January I wrote a post in which I expressed some concern as to whether new Securities and Exchange Commission chair Mary Schapiro would move the investment industry into a regulatory environment that is more favorable for investors. So far, the signs seem encouraging.
One of the regulatory issues that many financial planners are concerned about is the current disparity between the rules governing Registered Investment Advisers and those that govern brokers. Registered Investment Advisers, who are regulated by the states and/or by the SEC, are normally required to act in their clients’ best interests; they are fiduciaries.
Under current …Read More