WASHINGTON BUREAU — Republicans on the House Financial Services Committee teamed with insurance agent groups Tuesday to attack U.S. Securities and Exchange Commission (SEC) efforts to apply a uniform fiduciary standard to investment product sales.
The committee's Capital Markets and Government-Sponsored Enterprises Subcommittee of the House Financial Services Committee organized a hearing to review proposals for changes in investment advisor oversight rules, including uniform fiduciary standard proposals.
Terry Headley, president of the National Association of Insurance Financial Advisors (NAIFA), Falls Church, Va., testified that SEC moves to apply a fiduciary duty to broker-dealers would reduce product access and product choice.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.