SEC Should Have Been The Agency To Deal With Fiduciary, Ex-Chief Says
June 14, 2017 by John Hilton
WASHINGTON –Former Securities and Exchange Commissioner Paul S. Atkins expressed disappointment this morning with Labor Secretary Alexander Acosta’s initial handling of the controversial fiduciary rule.
In a Wall Street Journal op-ed last month, Acosta announced that he would permit the fiduciary rule to take effect, which happened at 11:59 p.m. June 9.
This week’s agenda at the Insured Retirement Institute’s Government, Legal and Regulatory Conference is heavily tilted toward the Department of Labor fiduciary rule. Atkins tried “a Hail Mary pass” to get Acosta to take a harder line on the June 9 deadline, but the secretary wasn’t swayed.
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