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(AFX UK Focus) 2010-06-25 23:27 Investment advisers weigh in on U.S. financial reform bill
NEW YORK, June 25 (Reuters) – For financial advisers, the hot-button topic of the latest financial regulatory reform is, what constitutes financial advice. Under current rules, investment advisers are legally bound to put their clients’ interests first, known as the fiduciary standard. By contrast, brokers can make recommendations to clients as long as they are “suitable.” Regulatory legislation …
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