http://www.mcclatchydc.com/2010/04/28/93066/lawmakers-to-holder-are-goldman.html
Sounds good right?....That is until you note the acception
Maintaining that no Wall Street executive is "too big for jail," 62 members of the House of Representatives asked the Justice Department Wednesday to investigate whether Goldman Sachs and other Wall Street firms committed criminal fraud in the lead-up to the subprime mortgage meltdown.
Under Senate bill, brokers don't have to put clients first
By law, financial planners and investment advisers have a fiduciary duty to their clients, the consumer. However, broker-dealers and insurance brokers who work with them have convinced the Senate Banking Committee, at least for now, that they deserve an exception from this duty to put the client first.
Under the sweeping overhaul of financial regulation passed by the House of Representatives in December, broker-dealers and insurance brokers that offer financial advice to consumers would be bound by the same duty to put client needs first as financial planners and others who give investment advice to consumers.
http://www.mcclatchydc.com/2010/04/27/92991/financial-advisers-who-dont-put.html
