SIFMA Statement on SEC's Request for Information on Fiduciary Duty

Release Date: March 1, 2013

Contact: Andrew DeSouza, 202.962.7390, 

SIFMA Statement on SEC’s Request for Information on Fiduciary Duty 

 Washington, DC, March 1, 2013—SIFMA today released the following statement from Ira Hammerman, senior managing director and general counsel after the Securities and Exchange Commission (SEC) published a request for data and other information to help the agency consider whether to write new rules implementing a uniform fiduciary standard of conduct for brokers and investment advisers. 

“We welcome the SEC’s continued focus on this important issue for individual retail investors. We’ve long supported a uniform fiduciary standard of care for brokers and investment advisers who provide personalized investment advice to individual retail investors. We’ve been expecting the SEC to move in such a fashion, and we believe that gathering further data and is the appropriate next step forward. We look forward to reviewing the request carefully, discussing it with our members, and submitting our comments in response.” 


 The Securities Industry and Financial Markets Association (SIFMA) brings together the shared interests of hundreds of securities firms, banks and asset managers. SIFMA's mission is to support a strong financial industry, investor opportunity, capital formation, job creation and economic growth, while building trust and confidence in the financial markets. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit


Learn How ›


In New York:
Katrina Cavalli


 Liz Pierce



In Washington:

Carol Danko

Market Data