Rep. Waters Seeks to Block SEC Regulation Best Interest

June 25, 2019 by Melanie Waddell

House Financial Services Committee Chairwoman Maxine Waters, D-Calif., wants to block the Securities and Exchange Commission from enforcing Regulation Best Interest.

Waters offered an amendment to the Financial Services and General Government Appropriations Act of 2020, H.R. 3351, to prohibit the SEC from using funds to enforce Reg BI.

The House Rules Committee voted late Monday evening to accept Waters’ amendment for House floor consideration to H.R. 3351. Waters’ amendment will now be taken up on the House floor as soon as Tuesday.

Reg BI was approved by the SEC on  June 5.

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Originally Posted at ThinkAdvisor on June 24, 2019 by Melanie Waddell.