US broker-dealers face higher costs from new customer care standard

Uniform fiduciary standard may raise the bar for investment advisers and broker-dealers

When the US Dodd-Frank Act was signed into law in July 2010, one of its key aims was to make the US financial system fairer and clearer for the consumer. Since then, certain sections of the law have been hogging the limelight – Title VII and over-the-counter derivatives reform and the Volcker rule being the most obvious ones. But there are other less-remarked sections of the act that have still been a source of continued debate for Congress and the industry, and which will have wide-reaching