As the Securities and Exchange Commission works on finalizing its advice standards for brokers and advisers, how it addresses conflicts of interest will largely determine whether investors benefit from the proposed Regulation Best Interest as well as the Commission’s accompanying interpretation of the Investment Advisers Act fiduciary duty. CFA has developed a framework for addressing conflicts of interest that can be adapted to both brokerage and advisory business models, with firms required to adopt conflict mitigation practices that are tailored to the nature and scope of conflicts of interest present in their particular business.