Piaba Report: To Protect Retirement Savers, “Major Surgery” Needed To Fix Shortcoming Of SEC “Best Interest Standard” Proposal - Attorney Group Outlines 15 Major Changes To SEC Rule Proposal to Ensure Conflicts Of Interest Adequately Disclosed, Investor Needs And Limits Are Recognized.

Unless the U.S. Securities and Exchange Commission (SEC) makes 15 major changes to its “Best Interest Standard” rule proposal, the Commission “will further perpetuate the status quo of allowing Wall Street brokerage firms and brokers to peddle high cost, conflict laden investments and investment strategies,” according to a new report from the Public Investors Arbitration Bar Association (PIABA).