Please Oppose Menendez-Akaka Amendment to S.3217 Creating a Uniform Standard of Care

Attention NAILBA Members: This week, the U.S. Senate is gearing up to debate S.3217 (The Restoring American Financial Stability Act of 2010), a sweeping regulatory overhaul of the financial services industry.

As part of these reforms, Senators Robert Menendez (D-NJ) and Daniel Akaka (D-HI) are preparing to introduce an amendment that would impose a uniform fiduciary standard of care on all broker-dealers.

Click here to tell your Senators to oppose this amendment and support the Johnson-Crapo provision commissioning a study of the roles of brokers, dealers and financial advisors.