said, “If the white paper is the controlling document, Satoshi is the fiduciary as the issuer of bitcoin until it is set in stone long enough that it becomes regulated as a commodity.”.
... best-interest rule in place over advice to purchase securities, but that fiduciary standard (and the SEC’s authority) did not extend to commodities or to insurance products such as indexed annuities.
photo: Creative Commons / photo by Julim6 on Pixabay
The “fiduciary standard” requiring advisors to put their clients' best interest above their own will apply to ...Currently, certain products like commodities or insurance products aren’t covered by the fiduciary standard.
But justices were not swayed by those arguments and claims that Galvin’s authority to set fiduciary rules under state law was restricted to companies in securities, commodities and insurance, not broker-dealers.
... commodity trading advisory, commodity pool operator, broker dealer, fiduciary, promoter" (as defined in the Investment Company Act of 1940, as amended), "expert" as enumerated within 15 U.S.C.
... commodity trading advisory, commodity pool operator, broker dealer, fiduciary, promoter" (as defined in the Investment Company Act of 1940, as amended), "expert" as enumerated within 15 U.S.C.