01.25.21
Gensler Clashed with SEC Investor Advice Rule in Sign of Changes to Come at Regulator
by: Kellie Mejdrich
When Gary Gensler chaired a Maryland financial protection commission in 2019, the group called on state lawmakers to adopt a strict standard to prohibit conflicts of interest by investment advisors. What was striking about Gensler’s move is that it came just before the SEC finalized its Regulation Best Interest. With Gensler tapped by President Joe Biden to become the new chair of the SEC, that contrast illustrates how, if confirmed, he’s likely to lead the market regulator in a sharply different direction from the one charted by his predecessor, Jay Clayton.
Read the full article on Politico Pro.