SEC seeks input on broker-dealer, adviser standard of conduct

The Securities and Exchange Commission is stepping into a contentious debate over the regulation of broker-dealers and investment advisers. The agency recently requested data and other information to assist regulators in considering whether to make new rules about the standards of conduct and regulatory obligations for broker-dealers and investment advisers. The SEC is particularly interested in the potential impact of creating a uniform fiduciary standard of conduct applicable to all investment advisers and broker-dealers when providing personalized investment advice to retail customers.