Iowa insurance regulator cautions SEC about modifying suitability rule
May 11, 2018 by Mark Schoeff Jr.
A state insurance official on Thursday asserted that current investment-advice regulations for brokers are working and that modifying them under a proposal from the Securities and Exchange Commission could hamstring state regulators.
Iowa Insurance Commissioner Doug Ommen said that the suitability rule that requires brokers to sell investment products that align with their clients’ objectives and risk tolerances is protecting investors.
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