New Broker Regulations Set for Approval by SEC

The video discusses a new rule for brokers to act in the best interest of investors, highlighting its differences from the Obama administration's fiduciary rule. There is significant debate over what 'best interest' means, with many challenging the rule. A PR campaign against the SEC is underway, and the AARP is organizing protests. Critics, including a former SEC attorney, label the rule as 'fake regulation' due to bank support. The AARP's role in protests is also explored.

What is the main concern about the new fiduciary responsibility rule for brokers?

• It is too complicated to understand.

• It is not supported by any financial institutions.

• It does not go far enough compared to previous rules.

• It is too strict for brokers.

What is the main issue with the 'best interest' requirement for brokers?

• It is not legally binding.

• It is not clearly defined.

• It is only applicable to large investors.

• It is too expensive to implement.

Who is reportedly organizing protests against the SEC?

• The banks

• The SEC itself

• The Obama administration

• AARP

Why do some people refer to the new rule as 'fake regulation'?

• Because it is not enforced by law.

• Because it is identical to the previous rule.

• Because banks support it.

• Because it was not approved by the SEC.

What is the role of AARP in the protests against the SEC?

• They are funding the protests.

• They are organizing the protests.

• They are opposing the protests.

• They are sending people to protest.