FINRA to SEC: Act on fiduciary, or we’ll make our own disclosure rules

May 30, 2013 by Melanie Waddell

CEO Ketchum says FINRA will also review the impact its rules have on BD firms—and will be asking for firms’ input on which ones to review

Richard Ketchum, CEO of the Financial Industry Regulatory Authority, called on the SEC Tuesday to “act quickly” to finalize its rule to put brokers and advisors under a uniform fiduciary standard, but noted that in the absence of SEC action, FINRA would “look hard” at issuing “an additional disclosure rule with respect to broker-dealer firms.”

At FINRA’s annual conference in Washington, Ketchum said that it’s time for the SEC to move toward finalizing a uniform fiduciary standard. Click here to read…

Originally Posted at LifeHealthPro on May 22, 2013 by Melanie Waddell.