1. House Democrats call on SEC to strengthen Regulation Best Interest

    House Democrats call on SEC to strengthen Regulation Best Interest

    At subcommittee hearing Thursday, congress members express concerns about investor protection under agency's advice reform proposal.

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  2. Quotes

    1. Taken together, these shortcomings mean the SEC's rule will still leave retail investors dangerously exposed to substantial losses caused by advice from hopelessly conflicted brokers.
    2. The proposed regulation significantly raises the stand of care by formally establishing the customer's best interest as the overarching standard of care.
    3. In only two years, the commission has come forward with a very substantial, thoughtful proposal.
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