Understanding the Standard of Care for Broker-Dealers and the Department of Labor\U2019s Fiduciary Rule international financial law review THE STANDARD OF CARE FOR BROKER-DEALERS AND THE INTRODUCTION to their customers. However, when adopting the Investment Advisers Act of 1940, customer. In this regard, the suitability standard does not \U2022 obtaining written, revocable consent from the client authorizing the adviser to The SEC has stated that investment advice is \U201Csolely \U201CExcept as otherwise provided in subparagraph (B),24 provide the advice pursuant to an agreement, arrangement Significance or consequences of broader fiduciary standard plan fiduciary, plan participant or beneficiary, IRA, or IRA received as a result of advice generated by an interactive website (robo-advice). range of investments. Instruments covered by the Principal standards for broker-dealers that vary from those set forth in the new Exchange Future of the uniform fiduciary standard support for any determination that commissions or other fees are consistent with ENDNOTES 45. FAQS II Q&A 20 and 21. USEFUL REFERENCES: ABOUT THE AUTHORS STANDARD OF CAR E | MOR R ISON & FOE R STE R | 21 http://www.inhousedigitalpublishing.com
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