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States Prepare to Oppose Best Interest Reg

In a development that could lead to litigation, a group of 17 state attorney generals alleges that the Securities and Exchange Commission's proposed "best interest" regulation has egregious deficiencies. So reports RIABiz.

Those deficiencies include failing to hold broker-dealers to the fiduciary standard. The regulatory powers of attorney generals could allow the group to sue the SEC if the regulation falls short of its intended goal of protecting investors.

Read the full article from RIABiz.

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