The Securities and Exchange Commission will codify a proposed uniform fiduciary standard by the fall of 2016, according to the agency's agenda for the next year, published with the Office of Management and Budget.
It is one of more than 30 rules officially designated as being in the "proposed" stage, according to documents published by the OMB.
In recent testimony before the Committee on Financial Services in the U.S. House of Representatives, SEC Chair Mary Jo White informed lawmakers that the agency would "catalyze consideration" of a uniform fiduciary duty for investment advisers and broker-dealers.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
