States Pursue Their Own Broker Conduct Rules

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Federal Reserve officials voted to hold interest rates steady Wednesday, as a lack of inflation pressure outweighed an economy that otherwise is growing strongly.

WASHINGTON—Several states are rolling out stricter standards for investment-broker conduct, bucking industry warnings about an unwieldy patchwork of rules around the country.

Weaning off the scandal-plagued Libor benchmark is a gigantic problem for global rates markets, one that increasingly looks too burdensome for a single replacement to handle in the U.S.