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The Institute for the Fiduciary Standard

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You are here: Home / News / SEC Conduct Standards Rulemaking

SEC Conduct Standards Rulemaking


Institute opposes proposed Reg BI in August 6 SEC comment letter, offers way forward to reengineer rule to meet fiduciary principles.

The Proposed Rules

There are two rules and a guidance document. They may be found here.

Institute Statements

  • June 11 Brief Analysis
  • June 19 Comment Letter to Chairman Clayton
  • June 19 Comment Letter from John C. Bogle
  • June 19 Comment Letter from Michael Zeuner
  • June 22 Comment Letter from Tamar Frankel
  • November 12 RAND/OIAD Study 

Media Reports

  • June 8, 2019 – Success of SEC advice reform will depend on industry actions by InvestmentNews Editorial.
  • November 19, 2018 – Fight Over NJ Fiduciary Rule Heats Up by Melanie Waddell (Think Advisor)
  • November 19, 2018 – Fight for New Jersey fiduciary rule yields doomsday rhetoric from both sides by Greg Iacurci (Investment News)
  • November 19, 2018 – Wall Street Fights Against N.J. Fiduciary Rule by Tracey Longo (Financial Advisor)
  • November 19, 2018 – New Jersey Hears Testimony on Fiduciary Proposal by Diana Britton (Wealth Management) September 19, 2018 – Reg BI Disclosure Does Not Pass Readability Test
  • September 18, 2018 – Exclusive Interview: Harold Evensky says DOL Fiduciary Opened “Good” Pandora’s Box
  • September 18, 2018 – Fiduciary Group: Brokers Must Tell Customers ‘We Do Not Represent You’
  • August 20, 2018 – Proposed SEC advice rule obscures distinctions between two business models
  • August 7, 2018 – Deluge of comment letters to SEC shows usual split on raising broker standards
  • August 6, 2018 –  SEC Gives Brokers Free Pass On Fee Disclosures, Fiduciary Group Says by Tracey Longo (Financial Advisor)
  • July 20, 2018 – Test Your Financial Advisor: Ask About the Fiduciary Rule by Andrea Coombes (Nerd Wallet)
  • July 20, 2018 –
    Brooke’s Bits: Financial Engines begins private life today; Yahoo!’s Wells Fargo take-down may misunderstand branded wealth managers (RIABiz)
  • July 19, 2018 – The SEC knows what’s best (registration required) by Brian Hamburger (InvestmentNews)
  • July 19, 2018 – Behind closed doors: The big problem with how the SEC is getting insights from investors by Mark Schoeff Jr. (InvestmentNews)
  • July 16, 2018 – Investors Tell SEC Best Interest Proposals Are Misleading by Tracey Longo (Financial Advisor)
  • June 27, 2018 – Shouting into the void: RIAs worried by SEC’s broker-dealer proposals by Ian Wenik (CityWireUSA)
  • June 21, 2018 – Investor protection rule is dead
  • June 19, 2018 – Should investment advisers be put on a pedestal when it comes to advice standards?
  • May 23, 2018 – Clayton: SEC left ‘fiduciary’ out of new advice rule to avoid investor confusion by Mark Schoeff Jr. (InvestmentNews)
  • May 22, 2018 – SEC official addresses criticism of best-interest standard for brokers by Mark Schoeff Jr. (InvestmentNews)
  • May 21, 2018 – Finra anticipates oversight role for SEC advice rule by Mark Schoeff Jr. (InvestmentNews)
  • May 4, 2018 – Fiduciary advocates disagree SEC advice rule harmonizes standards by Mark Schoeff Jr. (InvestmentNews)
  • May 2, 2018 – 6 big questions about the SEC advice rule by Greg Iacurci (Investment News)
  • May 1, 2018 – Where’s The ‘Best Interest’ In The SEC’s Best Interest Proposal? by Tracey Longo (Financial Advisor)
  • April 19, 2018 – SEC proposal leaves big gaps in broker, advisor standards by Kenneth Corbin (Financial Planning)
  • April 19, 2018 – SEC Broker Conduct Plan Is Not a Fiduciary Standard by Melanie Waddell (Think Advisor)
  • April 18, 2018 – Trump’s SEC Proposes Obama-Era Broker Conflict Rules Rewrite By Benjamin Bain and Robert Schmidt (Bloomberg Politics)
  • April 18, 2018 – SEC advice rule hearing updates by Mark Schoeff, Jr. (Investment News)
  • April 16, 2018 – SEC Proposed Rule(s) on broker dealer and investment adviser Standards of conduct expected on April 18 by Knut A. Rostad

Fiduciary Doings

Tamar Frankel and Phyllis Borzi

 

The Institute organized a meeting to discuss common interests on Reg BI, the states and advocacy on January 16 in Washington. 22 leaders from nine advisor and consumer advocacy organizations attended.

Here, Phyllis Borzi (left) and Tamar Frankel, Institute Board of Advisor members, are seen readying to depart an Institute dinner, the evening before, where they led discussions.

Carolyn McClanahan

 

"With the advent of 401(k)s and the decimation of pension plans to ensure financial security in old age, a fiduciary standard is more important than ever. The public needs to be confidant that advisors helping them plan for their retirement years always and only act in their best interest as a fiduciary. I'm happy to endorse organizations such as the Institute for the Fiduciary Standard that promote protections for those who need to secure their financial future."

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