Jason Zweig from the Wall Street Journal discusses how the Congress rejected the bill requiring stockbrokers and insurance agents to put consumers interest first.  The only people giving independent advice conflict free are Registered Investment Advisors.

Great ‘insider article’ describing how currently brokers and brokerages must act in a ‘suitable world’ in which they just have to show that invest recommendations they made were suitable, although not necessarily the best for an investor.  In addition, when it comes to special offerings, IPO’s and other specialty items that brokerages create or are [...]