The Coalition maintains that the law would prevent the Securities and Exchange Commission and the Financial Industry Regulatory Authority from creating new fiduciary rules to protect investors.
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In a letter sent to all members of Congress, the Financial Planning Coalition maintains that H.R. 2374, or the Retail Investor Protection Act, is a “back door” approach to weakening Dodd-Frank provisions. So reports DigitalJournal.
The Coalition maintains that the law would prevent the Securities and Exchange Commission and the Financial Industry Regulatory Authority from creating new fiduciary rules to protect investors.