Investing

Brokers will have to tell you a lot more about what they are advising you to buy starting next week

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Good news for investors: Your broker-dealer is going to have to disclose a lot more about what he or she is advising you to buy or sell.  

Regulation Best Interest, or Reg BI, is coming into effect June 30 after more than two years of controversy and discussion. It requires broker-dealers — those who buy or sell securities on behalf of clients — to act in the best interest of their clients and to identify conflicts of interests, including financial incentives they may have with the products they are selling.

Critics contend that the measure does not go far enough and that regulators have missed an opportunity to require broker-dealers to adhere to the same fiduciary standards that…



Source cnbc.com

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