05.30.19
Wall Street Sees a Win in SEC's Crackdown on Broker Conflicts
by: Benjamin Bain; Robert Schmidt
The SEC is poised to approve new requirements for selling assets after brokers fended off the government's attempts to restrict "shady" practices for almost a decade. But investor advocates are concerned the regulations fall short of what's needed to prevent firms from taking advantage of clients, a worry underscored by the industry's support of the SEC's effort. The SEC rules are viewed by some as being softer than Obama-era limits that were successfully blocked, and Wall Street would rather have an SEC chief appointed by a President Donald Trump set policies than take its chances with what might happen should a Democrat win the White House in 2020.
Read the full article on Bloomberg