03.15.19
SEC Reg BI's Economic Analysis Too Weak, Will Face Legal Challenges: SEC's Jackson
by: Melanie Waddell
SEC Commissioner Robert Jackson said Thursday that the economic analysis supporting the agency's advice-standards package, including Regulation Best Interest (Reg BI), is too weak and that it will face legal challenges. Speaking at the Investment Adviser Association's annual compliance conference, Jackson said: “For me one of the things about the proposal was that our economic analysis was not a serious attempt to understand the effects of the rule." He later added: “If the goal here is to set a standard that is sustainable, that will hold up, and that won't lead to more lobbying and litigation, I think we have a lot more work to do.”
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