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Brokers likely to have fiduciary duties in US bill
WASHINGTON |
WASHINGTON (Reuters) - U.S. lawmakers agreed on Thursday to give the Securities and Exchange Commission authority to impose fiduciary duties on broker-dealers who provide financial advice.
Lawmakers hashing out a financial regulation bill said the SEC would get this authority after conducting a six-month study on the issue.
The House and Senate hope to merge their bills this week so they can send a final version of the regulatory overhaul to President Barack Obama to sign into law by early July.
(Reporting by Kim Dixon, Rachelle Younglai; Editing by Kenneth Barry)
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