SEC’s White pushing to finish fiduciary rulemaking ‘quickly’

SEC Chairwoman Mary Jo White (AP Photo/Suzanne Plunkett)

Securities and Exchange Commission Chairwoman Mary Jo White told lawmakers Tuesday that the agency was “focused” on completing a fiduciary duty rule proposal and that “it’s important for me to get to wherever we are going on that [rulemaking] as quickly as we can.”

Since the July 5 close of the comment period on the costs and benefits of a fiduciary rulemaking, White (left) told members of the Senate Banking Committee that she has met with senior officials at the Department of Labor regarding collaboration on both agencies’ fiduciary rules and has directed staff “to engage more” with DOL “to make sure they understand [the SEC’s] perspective” on its fiduciary rulemaking, particularly the impact of the DOL’s fiduciary rule proposal on broker-dealers.