An average of US$8 million would be spent by Wall Street's brokerages. The money would be used  to carry out a plan being deliberated by the US Securities and Exchange Commission. It would inflict higher moral standards on brokers who provide financial advice. The amount was estimated by the securities industry's biggest trade group.

The Securities Industry and Financial Markets Association would present its data to the SEC on Friday. Friday was set to be the final day to get answers from interested people to provide information that would aid the agency. The organization wanted to verify if there was a need to impose a new standard. This standard was named as fiduciary rule.

SIFMA's judgment could further postpone the standard which was already discussed for a long time.

A controversy on the differences of tasks toward customers for security brokers was also deferring the implementation of the standard.