In a recent posting we highlighted issues surrounding the imposition of a fiduciary standard on broker-dealers. Gauging from the overwhelming majority of comments received to date, the SEC will continue, as expected, to receive strong pushback not only from the largest brokerage houses, but also from solo and smaller firm industry participants. Their mantra has been and continues to be ”no more regulation,” arguing that additional layers of oversight would further burden brokers administratively and would not, in fact, solve the problems the legislation was intended to remedy. We’ll continue to watch with interest as this continues to unfold and develop.