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

Attention NAILBA Members: The U.S. Senate has been debating 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 NEXT WEEK that would impose a uniform fiduciary standard of care on all broker-dealers.

Senators Menendez and Akaka have been actively seeking support from their colleagues for their amendment.

GO TO THIS LINK if you have not already responded to last week’s action alert on this matter. Take this opportunity now to stand up for your livelihood by asking your Senators to oppose this amendment.