SEC’s Clayton says agency is ‘pushing’ toward a fiduciary rule, working with DOL

September 26, 2017 by Mark Schoeff Jr.

For the past week, Securities and Exchange Commission Chairman Jay Clayton has had his hands full dealing with cybersecurity, following the agency’s disclosure of a breach that may have led to illegal trading. But he told lawmakers on Tuesday that investment advice regulation remains a top priority.

Mr. Clayton’s appearance before the Senate Banking Committee mostly focused on the attack on the SEC’s corporate filing system. Republican and Democrats criticized the agency for waiting more than a year before revealing that the intrusion had occurred.

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Originally Posted at InvestmentNews on September 26, 2017 by Mark Schoeff Jr..