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For SEC fiduciary rule, regulate titles first: CFA Institute

One way for the SEC to regain control of the fiduciary rule is to regulate advisor and broker titles, advises the CFA Institute.

By Melanie Waddell | Updated on June 19, 2017
One way for the SEC to regain control of the fiduciary rule is to regulate advisor and broker titles, advises the CFA Institute.(Photo: AP)

What’s the first logical step that the Securities and Exchange Commission should take in crafting a fiduciary rule? Regulate advisor and broker titles, advises the CFA Institute.

The Commission “can effectively begin to regain control of this [uniform fiduciary rule] issue by regulating the titles that those who provide personalized investment advice can use,” Paul Smith, president and CEO of the CFA Institute, which sponsors and oversees the Chartered Financial Analyst program and designation, told the agency in a June 13 comment letter.

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