The Securities and Exchange Commission on Wednesday proposed rules that would mean stockbrokers would face tighter restraints on conflicts that can bias investment advice to customers. The SEC’s plan to require brokers act in the best interest of clients is less restrictive than the Labor Department’s fiduciary rule affecting retirement accounts that was completed during the last days of the Obama administration, and will likely spark complaints from congressional Democrats and consumer groups that it is too permissive. The SEC’s rule wouldn’t ban any single conflict of interest, such as sales contests that brokers conduct to juice sales of particular products, but would generally require brokers to disclose conflicts of interest and try to blunt their impact. Read the original story from The Wall Street Journal.