United States:
Clayton Requests Comment On Fiduciary Rule As SEC Considers Its Options
12 June 2017
Kramer Levin Naftalis & Frankel LLP
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Recently confirmed SEC chairman Jay Clayton released a request
for comment from retail investors and other stakeholders regarding
investment advice standards. While the Department of Labor's
Fiduciary Rule is set to begin implementation on June 9, it also
faces a review under the direction of President Donald Trump and
has been criticized as encroaching on the SEC's regulatory
jurisdiction. The financial industry, which has been largely
critical of the rule, welcomed the new SEC chairman's
invitation to provide feedback. Comments can be submitted to the
SEC via webform or
email.
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