August 6, 2018
The Honorable Jay Clayton, Chairman
100 F Street, NE
Washington, DC 20549
RE: Regulation Best Interest; File No. S7-07-18
Dear Chairman Clayton:
I write, as president of the Institute for the Fiduciary Standard, in response to your request for comment on standards of conduct for investment advisers and broker dealers. This letter addresses Regulation Best Interest (RBI).
The SEC has a unique and vital role in overseeing over 12,000 registered investment advisers with trillions of dollars in assets held by 54% of U.S. households, according to Gallup. Fiduciary duties serve to guide adviser conduct; the Commission edits and publishes the guide. Your guidance is critical for advisers seeking to know they meet the standard and, also, to ’self-police’ their own actions.
The SEC has released three proposed rules on conduct standards for
Read the entire comment to the SEC below.