Wyden wants clients to know firm’s portfolio
“No other industry wold bet against their own product while selling it to the American people,” Wyden said in a statement. “If these firms are willing to create and sell these products then they should be able to stand behind them and be honest with their clients.”
His amendment creates a Financial Stability Oversight Council that would require any seller of a financial product to disclose to the purchaser whether the seller would benefit financially if the product lost value.
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