The SEC’s “Best Interest” Proposal – A Step Forward or a Set Back?
Fiduciary NewsSeptember 05, 2018
After years of letting the Department of Labor do all the heavy lifting, the Securities and Exchange Commission finally swung into action a month after the 5th Circuit vacated the DOL’s Fiduciary Rule. On April 18, 2018, the SEC “voted to propose a package of rulemakings and interpretations 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 advice relationships and investment products.” They call it “Regulation Best Interest” and it’s been the talk of the town since this spring.
