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My fellow cajun and GMU colleague – over in the law school – J.W. Verret was interviewed earlier this week by the Wall Street Journal on legislation that would impose fiduciary duties on broker-dealers toward their clients.  Here's an excerpt:

DJ [Deal Journal:]: How would this proposal change Wall Street?

Verret: It's a ground-breaking already to require broker dealers to uphold a fiduciary duty. It's doubly ground-breaking to criminalize the violation of those duties. Brokers have an...