The Securities and Exchange Commission is wading into the long-running battle over how to protect consumers from their broker or advisor offering self-serving investment advice.
At a public meeting scheduled for April 18, SEC commissioners will consider whether to propose rules that would impose new standards for securities brokers, according to a notice on the agency's website. Under possible consideration:
- Requiring advisors and brokers to provide a "brief relationship summary" to retail investors.
- Establishing a standard of conduct for brokers who provide investment advice to retail clients.
- Issuing an agency interpretation of its standard of conduct for investment advisors.