SEC's RAND Study: Trojan Horse for the Brokerage Industry?

Thompson, Duane
March 2007
Journal of Financial Planning;Mar2007, Vol. 20 Issue 3, p30
Academic Journal
The article discusses a study by the United States Securities and Exchange Commission and RAND Center for Corporate Ethics, Law and Governance concerning confusion between broker and adviser regulation. The study was commissioned after the Securities and Exchange Commission's Rule 202 spurred controversy by declaring almost any information given as a broker as "incidental," and thus unregulated, even if the advice is comprehensive and wide-ranging. The author analyzes the study's bearing on this rule.


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