SIFMA Statement on SEC Chair White’s Comments at SIFMA Annual Meeting

Release Date: November 10, 2015
Contact: Carol Danko, 202-962-7390, [email protected]

SIFMA Statement on SEC Chair White’s Comments at SIFMA Annual Meeting

Washington D.C., November 10, 2015 – SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on the comments made by SEC Chair Mary Jo White at SIFMA’s 2015 Annual Meeting:

“We appreciate Chair White underscoring the complexity of creating a uniform fiduciary standard for all financial professionals providing investment advice to retail customers. SIFMA has long supported the creation of a best interest standard, and we agree with the Chair that we have to get this right. Given the complexity of the issue and the potentially harmful impact on investors if regulators don’t get it right, we urge the Department of Labor to repropose itsfiduciary rule, so that all stakeholders may take another look before it becomes final.”