SEC's proposal signals that regulators are open to more restrictive policies for discretionary brokerage accounts, but it fails to define personal investment advice or when brokers' so-called incidental advice exemption comes into play. (Photo: Shutterstock)
The Securities and Exchange Commission's proposed rule for raising the suitability standard on brokers-dealers will potentially result in more investor confusion, according to CFA Institute.
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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.
