FSI

FSI Statement on SEC Request for Comment on Standards of Conduct

June 2, 2017

WASHINGTON, D.C. – Today, Financial Services Institute (FSI) President & CEO Dale Brown released the following statement on SEC Chairman Jay Clayton's request for comment on standards of conduct for investment advisers and broker-dealers:

“FSI has long advocated for a uniform fiduciary standard from the SEC, and Chairman Clayton’s request for comment is a promising step toward achieving one. Developing a thoughtful, uniform standard will take time. However, we look forward to working with Chairman Clayton and the SEC to create a standard that ensures Main Street investors receive advice that is in their best interest while preserving their access to affordable, objective financial advice and products. We strongly encourage Chairman Clayton and his team at the SEC to coordinate with the Department of Labor to ensure the achievement of a true uniform fiduciary standard for the industry.” 

About the Financial Services Institute (FSI): The Financial Services Institute (FSI) is the only organization advocating solely on behalf of independent financial advisors and independent financial services firms. Since 2004, through advocacy, education and public awareness, FSI has successfully promoted a more responsible regulatory environment for more than 100 independent financial services firm members and their 160,000+ affiliated financial advisors – which comprise over 60% of all producing registered representatives. We effect change through involvement in FINRA governance as well as constructive engagement in the regulatory and legislative processes, working to create a healthier regulatory environment for our members so they can provide affordable, objective advice to hard-working Main Street Americans. For more information, please visit financialservices.org.