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SEC Roundtable On Adviser, Broker Rules Urged

Law360 (January 4, 2008, 12:00 AM EST) -- A membership organization for the American financial planning community called on Thursday for the U.S. Securities and Exchange Commission to hold a public discussion on the findings of an independent report before implementing new regulations for investment advisers and brokers.

The Financial Planning Association said that the report, which the SEC commissioned in 2006 from the Rand Corp. to study practices among advisers and dealers, raised concerns that many American investors do not understand the difference between the two.

“Rand simply confirmed that there is an...
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