No. of Recommendations: 1
http://en.wikipedia.org/wiki/Retail_Investor_Protection_Act_...

In essence this would discourage advisers promoting investments that are most profitable to themselves rather than to the benefit of their clients.

This would delay such rules until it is determined that such a change would not harm small investors. Not a terrible idea.

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Section 3 of the bill would amend the Securities Exchange Act of 1934 to prohibit the SEC from promulgating a rule establishing an investment advisor standard of conduct as the standard of conduct of brokers and dealers before it has ascertained: (1) if retail customers are systematically harmed or disadvantaged owing to the operation of brokers or dealers under different standards of conduct than those that apply to investment advisors under the Investment Advisers Act of 1940, and (2) whether adoption of a uniform fiduciary standard of care for brokers or dealers and investment advisors would adversely impact retail investor access or availability to personalized investment advice and recommendations.[1]
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