On June 14, 2010, CFP Board joined with consumer advocates, regulators and industry organizations, as well as U.S. Senators Daniel Akaka and Robert Menendez, to call on the U.S. Congress to require broker-dealers to meet the same fiduciary standard as investment advisers. This would provide critical protections to Main Street investors. In a letter to the conferees, the group stated: "Financial regulatory reform presents an historic opportunity to improve investor protection for Americans and restore confidence in the market. Requiring all financial professionals to act in the best interests of their customers when they provide investment advice is the single most important protection needed by the average Main Street investors." The group urged the House and Senate conferees to adopt the House-passed legislation that extends the fiduciary standard of care to all financial professionals who give investment advice.
Read the letter to the conferees (PDF, 85KB)
← Back to Regulatory Comments
CFP Board, the Financial Planning Association®, and the National Association of Personal Financial Advisors are working together as the Financial Planning Coalition to pursue consumer protection and industry reform.
© 2012 Certified Financial Planner Board of Standards, Inc. All Rights Reserved.
1425 K Street NW #800, Washington, DC 20005
phone: 800-487-1497 (Toll-Free) / 202-379-2200 | fax: 202-379-2299 | firstname.lastname@example.org
We welcome your feedback and invite you to complete a brief 5-question survey to help us improve your experience on CFP.net.
It's easy to participate and will take less than 2 minutes:
Click the "Yes" button below to continue your visit on CFP.net as intended. When finished, simply retrieve and complete the questionnaire that will appear in a new browser window.
Quick Links Find a CFP® Professional Verify Certification Get Certified Create an Account | Log In Apply for the CFP® Exam Center for Financial Planning Career Center Find CE Programs Brochures & Publications LetsMakeaPlan.org