CFP Board Calls for Restoration of Financial Stability Act

On May 18, 2010, CFP Board and five other pro-consumer and public interest groups delivered a letter to members of the U.S. Senate in support of the Akaka-Menendez-Durbin amendment to the Restoring America’s Financial Stability Act, which would direct the SEC to issue rules requiring brokers who provide personalized investment advice to retail customers to have the same fiduciary duty as investment advisers. In the letter, the groups also expressed opposition to another amendment that fails to deliver on the promise of fiduciary protections.

Read the letter to the Senate (PDF, 81KB)