2012-10-11 — nytimes.com
This case is likely to put a spotlight on trust accounts. Under the current law, some stockbrokers are required to act in a customer's best interest -- but that is a less-stringent standard that allows them to sell products that are suitable, but not necessarily in a client's best interest. Brokers who handle trust accounts are held to the higher standard and have to do what is best for the client alone.
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