Brokers likely to have fiduciary duties in US bill

WASHINGTON (BestGrowthStock) – 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.

Investment Analysis

(Reporting by Kim Dixon, Rachelle Younglai; Editing by Kenneth Barry)

Brokers likely to have fiduciary duties in US bill