Financial Reform 101: For Broker-Dealers

Law360, New York (July 27, 2010, 11:22 AM EDT) -- The Dodd-Frank Wall Street Reform and Consumer Protection Act — passed by Congress on July 15, 2010, and signed into law by President Obama on July 21, 2010 — is the culmination of years of debate and negotiation over the scope of reform in the financial services industry.

One of the most contentious topics debated by Congress was whether to adopt a uniform and enhanced fiduciary standard to be applied to all relationships between broker-dealers and their retail clients. Despite immense pressure to adopt such a...
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