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.-
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A Discussion of Some of the Differences Between the Regulatory Requirements of Brokers and RIAs
July 28, 2009 SUMMARY Relatively little discussion has occurred to help policy makers and investors compare the differences and similarities, as currently required in law, between a fiduciary relationship and an arms length relationship. An arms length relationship requires a … Continue reading
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Industry Leaders Call to Congress: Adopt The Authentic Fiduciary Standard in Wall Street Reforms
June 29, 2009 Five Core Principles of the Authentic Fiduciary Standard are Vital Washington, DC – June 29, 2009 –A group of industry leaders today called on Congress to uphold the authentic fiduciary standard as it drafts new legislation extending … Continue reading
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