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Comment: US brokerages told to heed broad Trump-era rule in recommending stocks during Libor transition

By Neil Roland ( December 13, 2021, 19:28 GMT | Comment) -- The US Securities and Exchange Commission is using an unlikely cudgel — an imprecise Trump-era rule bashed by investor advocates — to get brokerages to honor their customers’ interests in recommending securities in general and specifically during the transition from Libor. The 2019 Regulation Best Interest required broker-dealers to act in the best interests of individual customers when recommending any securities transaction or investment strategy involving securities.The US Securities and Exchange Commission is using an unlikely cudgel – an imprecise Trump-era rule bashed by investor advocates – to get brokerages to honor their customers’ interests in recommending securities in general and specifically during the transition from Libor....

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