OLDWICK, N.J. — Certain life insurance agents and broker-dealer firms could face increased legal liability depending on how the U.S. Securities & Exchange Commission rules on the fiduciary standard pertaining to the sale of investment products.

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, signed into law on July 21, the SEC is directed to study the obligations and legal standards of care of broker-dealers and investment advisers when providing investment advice about securities to individual investors. Read more…