If Wall Street were really interested in having a total commitment to the long-term interests of its clients, it would embrace a fiduciary standard, but it does just the opposite.
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This week: The ECB tries to accommodate, JPMorgan is fined again, and 'liquid gold' gets scarce.
Passive equity funds, noncore bonds, alternatives, and many of the fund shops that sell them fared well last year, while core bonds, commodities, and gold suffered.
Brokers who hold investors' assets will have to file quarterly reports attesting to compliance with measures toprotect customer money and securities under rules adopted by the U.S. Securities and Exchange Commission.