SEC Investment Advice Rule Tough Enough, Clayton Assures Pols

June 22, 2018 by John Hilton

At one point during Thursday’s House Financial Services Committee hearing, SEC Chairman Jay Clayton assured a skeptical lawmaker that the agency’s investor advice rule would protect investors like a fiduciary standard.

After pointing out that registered investment advisors must put clients first, Clayton told Rep. Maxine Waters, D-Calif: “that’s what we’re going to do in the broker-dealer space. You as the broker-dealer can’t put your interests ahead of the customer.”

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Originally Posted at InsuranceNewsNet on June 21, 2018 by John Hilton.