09.16.24

SEC Committee to Discuss Definition of ‘Fiduciary’ Thursday

by: Brian Anderson

The Securities and Exchange Commission’s Investor Advisory Committee will host a panel discussion on the topic of who is required to serve in the client’s best interest during a public meeting in Washington D.C. on Sept. 19. The panel discussion came about because of the “uncertainty and confusion” among many investors as to when their financial professionals are “investment advice fiduciaries,” following the July 2024 Federal District Court stays of the Department of Labor’s Retirement Security Rule and related rulemaking.

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