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11 Former Sec Economists See Flaws In Best-interest Proposal

by fa-mag.com posted 4days ago 13 views
The hits keep coming for the Securities and Exchange Commission’s best-interest proposal—this time in the form of a letter from 11 former SEC economists who question the integrity of the economic analysis the SEC has used to justify their proposal. While SEC Commissioner Jay Clayton is championing the standards—ostensibly designed to raise broker conduct standards and investors’ understanding of brokers conflicts of interests—the economists fault the agency for failing to provide economic justification that clearly lays out what problems the controversial regulation will fix.

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