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SEC Fiduciary Rule Won’t Happen During Obama Presidency
The Securities and Exchange Commission is unlikely to adopt a uniform fiduciary standard prior to the end of the Obama presidency. In the meantime, the regulator will observe the Department of Labor’s fiduciary rule, says SEC Chief Mary Jo White. So reports ThinkAdvisor.
White, who discussed the matter before a Senate Banking Committee on oversight of the SEC, also said the Committee’s recent SEC budget, which is less than proposed by Obama, will imperil the regulator’s progress.
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