01.15.19
Government Shutdown Could Push Back SEC's Reg BI Timeline
by: Brian Croce
The SEC's Regulation Best Interest could be delayed because the partial government shutdown has furloughed the vast majority of SEC employees. The SEC is aiming to issue its final rule on the package by September, but all rule-making is effectively on hold during the shutdown and the timeline for proposed rules could be pushed back, say experts. "With each passing day, there's more uncertainty, there's more frustration," said David G. Tittsworth, a lawyer at Ropes & Gray. "It's not clear at all what will happen once the shutdown ends, how the SEC will deal with the backlog that is piling up."
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