In effect, the Labor Department could craft a new sellers' exemption that says an advisor or broker is in compliance with the fiduciary rule, so long as they are in compliance with the standards ultimately produced by the SEC. (Photo: AP)
As the Securities and Exchange Commission continues to field comments on a uniform fiduciary standard, some stakeholders are speculating that the Labor Department could draft a new exemption to its fiduciary rule based on a best interest standard produced by the SEC.
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