SEC chair didn’t offer details but said: “You won’t have to wait long”
By Mark Schoeff Jr.
Published in Investment News
Securities and Exchange Commission Chairman Jay Clayton remained tight-lipped about investment advice reform regulation on Thursday, but he hinted that it might be released sooner than expected.
In a discussion with reporters, he sidestepped a question about how the centerpiece of the package, so-called Regulation Best Interest, would address mitigation of broker conflicts of interest.
“Wait and see,” Mr. Clayton said on the sidelines of an Investment Company Institute annual meeting in Washington. “You won’t have to wait long.”
Mr. Clayton seemed to suggest that a final rule was imminent. Most observers are predicting a release sometime this summer. Mr. Clayton didn’t elaborate on a timeline.
Read the full article on Investment News