WASHINGTON -- Just a day after a top SEC official hinted at discord within the commission about an expansion of fiduciary rules to include brokers, a voting member of the agency spoke out in opposition to the proposal, at least until supporters can build a stronger case.

Speaking at FINRA's annual conference, Commissioner Daniel Gallagher said that he believes that the jury is still out on whether it would be in the best interest of investors to extend fiduciary responsibilities to brokers, or that the benefits would outweigh the costs.

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