SEC FIDUCIARY: Economists put to work to gather data for rule-making process
SEC Chairman Mary Schapiro asked her agency’s economists to gather data to help “inform whatever rule” the commission…
SEC Chairman Mary Schapiro asked her agency’s economists to gather data to help “inform whatever rule” the commission might propose regarding a universal fiduciary duty for retail investment advice. She also said the agency would explore rulemaking sometime after July 21, the first anniversary of the Dodd-Frank Act. Meanwhile, some say only a small population of broker-dealers are holding the commission back from issuing a proposal to subject broker-dealers to the fiduciary standard. For full story, see: Handful of broker-dealers holding back fiduciary rule
Learn more about reprints and licensing for this article.
