Why a Committee for the Fiduciary Standard?The Committee was formed in June 2009 by a group of investment professionals and fiduciary experts, just as policymakers and industry leaders were reviewing the repercussions of the financial crisis, to advocate that all investment and financial advice be rendered as fiduciary advice and meet the requirements of the five core fiduciary principles.
Five Core Principles:
• Put the client’s best interests first;
• Act with prudence, that is, with the skill, care, diligence and good judgment of a professional;
• Do not mislead clients--provide conspicuous, full and fair disclosure of all important facts;
• Avoid conflicts of interest;
• Fully disclose and fairly manage, in the client’s favor, unavoidable conflicts.
Monthly Archives: August 2009
Five Core Fiduciary Principles Interest SEC Commissioners
August 3, 2009 Details of core fiduciary principles and differences between fiduciary and ‘arm’s length’ standards discussed The Committee for the Fiduciary Standard, a group of investment industry leaders, took their fiduciary message to Washington on July 29th. The Committee … Continue reading
Posted in Uncategorized Leave a comment