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Republican Rep. Ann Wagner of Missouri has introduced legislation that would create a new standard for advisors that would fall somewhat between fiduciary and suitability requirements. So reports InsuranceNewsNet.

The bill would also kill the fiduciary rule’s prohibited transaction exemption and amend the Securities Exchange Act of 1934 by requiring that advisors in the retail market adopt the standard of best care.

Read the full article from InsuranceNewsNet.

Last modified on Saturday, 30 September 2017
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