What Investors Need To Know About SEC’s New Broker Standards
Fox Business cites Senior Fellow John Berlau on new SEC broker standards.
“Hopefully, the new rules will protect investors from fraud and deception but not prevent them from making the choice of which type of financial professional they wish to deal with,” John Berlau, a senior fellow at the Competitive Enterprise Institute, said in a statement. “The true ‘best interest’ for middle-class investors is a marketplace that provides truthful information so that investors can choose the financial professionals and strategies they believe work best for them.”
Berlau added that additional regulation raises the possibility of increased costs, which would likely be passed on to the consumer.