NAIFA President Gaudreau Meets With SEC Commissioner Stein

NAIFA President Jules Gaudreau, along with several NAIFA Government Relations staff members, yesterday met with Securities and Exchange Commissioner Kara Stein at SEC headquarters in Washington, D.C. 

The SEC is considering whether to propose a fiduciary standard for investment advisors and brokers under the Dodd-Frank financial reform law and what such a standard might entail. Earlier this year, the Department of Labor published a final rule establishing a fiduciary standard for advisors in the retirement space.

Gaudreau praised Commissioner Stein and her SEC colleagues for taking a deliberate approach on the fiduciary issue. NAIFA's biggest concern is that any SEC rule should not adversely affect middle-market investors who rely on the advice of NAIFA members and other advisors, Gaudreau said.

Gaudreau characterised the meeting as "positive" and "very productive." Commissioner Stein said that meeting with NAIFA allows the SEC to connect with investors and gives insight into how regulations affect consumers.

NAIFA will continue to engage on the issue with the SEC and members of Congress.

Additional Resources:
Information and resources on the DOL fiduciary rule are available on the NAIFA Web site. NAIFA offers an in-depth, four-hour Skill Builders workshop to prepare advisors for the implementation of the DOL rule.
  • Posted July 21, 2016 IN


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