Fidelity Fires About 200 Workers for Abusing Company Benefits – Bloomberg

If a brokerage employee, perhaps including brokers themselves, would pursue self-interest and exploit a company program, what would they do to their clients? And who says things like the fiduciary rule are unnecessary?

One thought is the rule can not “legalize morality.” Rather, the rule is needed to provide a stronger legal basis to seek damages when humans are caught pursuing self-interest (being human).

Regardless, buyer beware, including buyers of financial services.

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