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SEC Chair Endorses Uniform Fiduciary Standard

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March 18, 2015

Dear Friends,

SEC Chair Mary Jo White announced that she would like the SEC to develop a new rule, requiring brokers to have a fiduciary duty akin to investment advisers – to hold clients’ interests ahead of their own, rather than just making “suitable” recommendations.

Additionally, Chair White endorsed the concept of third party providers supplementing the SEC’s efforts to conduct investment adviser exams.

Please feel free to contact us with any questions at (212) 867-0200 or email us at info@counselworksllc.com.

Thank you,

CounselWorks

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CounselWorks is a strategic business and regulatory consulting firm, that provides project-based consulting and manages compliance and regulatory programs for hedge funds, private equity firms, investment companies, broker-dealers and investment banks.
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