Says Charlie Gasparino on Fox Business News:
"A portion of the recently enacted Dodd-Frank bill regulating the financial services Volcker Rule. But, the rule becomes muddied when firms trade for clients or underwrite bonds for clients and then hold those securities on their books."prohibits firms from trading with their own capital, under the so-called
How could this influence financial advisors? Especiallyadvisors/brokers if the SEC decides to require that they adhere to the fiduciary standard?
For the full story on Fox: http://www.foxbusiness.com/markets/2010/09/28/ny-fed-said-looking-constitutes-prop-trade/