SEC Chair Outlines Fiduciary Duty Proposal Goals

Law360 (March 19, 2018, 9:48 PM EDT) -- The head of the U.S. Securities and Exchange Commission on Monday offered new snippets of what to expect from the agency's long-awaited plans to revise the fiduciary duty standard while also expressing exasperation with the slow rollout of the consolidated audit trail.

Speaking at a Securities Industry and Financial Markets Association event in Florida, SEC Chairman Jay Clayton indicated that a new, simplified disclosure document would be an item at the heart of efforts to streamline the standard of care for advising retail investors.

He told...
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