The Times Editorial, Fiduciary Duty and the Levitt Rule
What is unethical? Not a broker-dealer that sells proprietary product, but one that just meets fair-dealing suitability rules while simultaneously telling investors that “We always place our clients first.”
Levitt and Donaldson Head Investor's Rights Task Force
A non-partisan task force composed of financial industry experts and co-chaired by two former SEC chairmen has been assembled to stress the "primacy of investor interest" in the expected regulatory reforms to the U.S. financial markets.