ORLANDO, Fla. – SIFMA, the industry's leading lobby group, has warned that the Labor Department's proposed fiduciary rule would create a messy regulatory framework, leaving advisors and firms being held to different standards by different regulators.

Now, with the proposal likely to become rule at the end of this month, according to industry insiders, SIFMA CEO Ken Bentsen says that the brokerage industry's other regulators may yet bring order to chaos.

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