WASHINGTON — Swap dealers that pitch to, advise, or enter into swap agreements with states, localities, and public pension funds would have a “fiduciary duty” to put the interests of those entities first, under legislation released Friday afternoon by Senate Agriculture Committee chairman Blanche Lincoln.

By holding swap dealers to the same fiduciary standard of conduct as investment advisers, the Arkansas Democrat said that Wall Street firms would no longer be able to take advantage of “Main Street and taxpayers.”

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