Chicago partner Jim Lundy commented on the SEC’s recently proposed broker and investment adviser regulatory revisions and its requests for public comments in a CNBC article titled “SEC Wants Mom and Pop Investors to Weigh in on Investment-advice Rule.” The proposals, which include a 90-day comment period, have several objectives, including attempting to clarify investor confusion about the different regulatory standards applicable to brokers and investment advisers.

Jim observed that “[t]he SEC always wants to hear from people when it proposes rules, whether individuals, industry groups or firms. But this is of particular importance,” given the differing legal obligations brokers and investment advisers face when providing investment advice to retail investors.

Read “SEC Wants Mom and Pop Investors to Weigh in on Investment-advice Rule.”


Source: CNBC
Leave Drinker Biddle to Learn More