SEC advice rule faces arduous journey
InvestmentNewsApril 30, 2018
On April 18, the Securities and Exchange Commission released its much-anticipated "fiduciary" rule proposal, "designed to enhance the quality and transparency of investors' relationships with investment advisers and broker-dealers while preserving access to a variety of types of relationships and investment products."
The realities of the rulemaking process, substantive aspects of the proposal and surprisingly negative comments from most of the commissioners all suggest that the proposal will face a long and arduous journey forward.
Blaine Aikin, executive chairman of Fi360 and CEFEX, offers his insights.
