The Securities and Exchange Commission's civil lawsuit accusing Goldman Sachs Group Inc. of securities fraud could strengthen the argument to establish a universal fiduciary standard, according to legal experts.

The case adds a "new dimension" to the debate over whether legislators should establish a fiduciary standard for everyone dispensing financial advice, Knut Rostad, the chairman of the Committee for the Fiduciary Standard, said during a conference call Wednesday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.