The economists and staff at the Securities and Exchange Commission who are responsible for performing a more detailed cost-benefit analysis on the agency’s rule to put brokers under a fiduciary mandate plan to ask the public to weigh in.

SEC Chairman Mary Schapiro (left) told Rep. Scott Garrett, R-N.J., chairman of the House Financial Services Capital Markets Subcommittee, in a Jan. 10 letter that SEC staff along with three economists in the agency’s Division of Risk, Strategy and Financial Innovation (RiskFin), “are drafting a public request for information to obtain data specific to the provision of retail financial advice and the regulatory alternatives.”

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