Lawmakers Seek to Bar Financial Advisers From Client Inheritances - News Summed Up

Lawmakers Seek to Bar Financial Advisers From Client Inheritances


A bipartisan group of four U.S. senators has asked financial regulators to create rules barring financial advisers from inheriting money or property from their clients. In a letter to the Financial Industry Regulatory Authority, the lawmakers said such bequests are “inherently problematic” because of conflicts of interest between an adviser’s professional obligations and personal interests.


Source: Wall Street Journal May 21, 2019 22:05 UTC



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