Beyond Democratic lawmakers, Reg BI's critics include consumer advocates as well as some in the registered advisory community. (Photo: Diego M. Radzinschi/ALM)
The Security and Exchange Commission's proposed regulations to heighten broker-dealers' standard of conduct, codify registered advisors' fiduciary obligations to retail investors, and streamline client disclosures are not expected to be slowed or materially impacted now that Democrats will hold the majority in House of Representatives.
“There will be a lot of noise when committees call for oversight hearings in the next Congress, but it doesn't mean anything will get changed,” said Duane Thompson, senior policy analyst at Fi360, a fiduciary education training and technology company.
|Waters likely to chair Financial Services Committee
The Financial Services Committee oversees the SEC. The Committee most recently held a hearing on the SEC's Division of Investment Management on September 28.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
