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The SEC Cracking Down on May and Might - E42 episode artwork

May 7, 2019 9 min

The SEC Cracking Down on May and Might - E42

from Connecting Dots Hosted by Fixed Cost Financial, Inc. | A True Fiduciary

The Securities and Exchange Commission (SEC) appears poised to crack down on the use of words like may, could, and might. There is no place in a professional ADV for these words. Be specific or get out of the business. United States Court of Appeals for the District of Columbia, No 16-1453 - The Robare Group, Ltd, et al v. Securities and Exchange Commission Investment advice should be simple with uncomplicated procedures and understandable language. We are do not make mountains out of molehills. A true fiduciary is conflict free in appearance and reality. Any form of discriminatory compensation makes void and null anyone’s statement that they are a fiduciary. Conflicts exist when a person or organization has multiple interests, financial or otherwise, and serving one interest works against the interest of another. AUM is a commission scheme whereby two clients, with identical holdings, are paying different commissions, solely based on the value of their accounts.

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The Securities and Exchange Commission (SEC) appears poised to crack down on the use of words like may, could, and might. There is no place in a professional ADV for these words. Be specific or get out of the business.

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The SEC Cracking Down on May and Might - E42

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This episode was published on May 7, 2019.

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