Comments Frame SEC Fiduciary Debate

June 27, 2017 by John Hilton

Comments are pouring into the Securities and Exchange Commission (SEC) on the industry’s favorite topic: the fiduciary standard.

The SEC reports 41 comments were received as of Tuesday. New chairman Jay Clayton penned a June 1 public statement staking a claim to any fiduciary standard.

The Dodd-Frank Act of 2010 directed the SEC to produce a fiduciary standard, but the agency has been plagued by political divisions in the years since. Phase one of the Department of Labor (DOL) fiduciary standard for all retirement funds took effect June 9.

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Originally Posted at InsuranceNewsNet on June 27, 2017 by John Hilton.