New York City Comptroller Scott Stringer on Wednesday will call for stockbrokers and financial advisers operating in New York state to be required to disclose whether they are obligated to put their clients’ interests ahead of their own.
Stringer will urge legislators in Albany to enact a rule requiring brokers to inform actual or prospective clients that the brokers might not always put clients' interests first. He said in an interview Tuesday that he expects such a bill to be introduced in the state legislature "very soon" and that it will have "many co-sponsors".