It has been been three years since the Securities and Exchange Commission, acting under the authority of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, released the results of its study recommending a uniform fiduciary standard for the conduct of registered representatives and investment advisers. While SEC Chair Mary Jo White has proclaimed that adoption of a uniform fiduciary standard as a major regulatory priority, the SEC has yet to promulgate final regulations implementing the change. It is unclear whether or when a universal fiduciary standard will be adopted. Adoption of a uniform fiduciary standard could lead to the expansion of arguments available to claimants’ counsel in FINRA arbitrations. Arbitration hearings could become more complex in order to adjudicate and determine multileveled claims for suitability and breach of fiduciary duty.