The SEC this year will continue to consider whether it should "subject broker-dealers to a fiduciary standard" and will hire additional examiners, the head of the agency, Mary Jo White, said this week.
Speaking Thursday at the Investor Advisory Committee's first meeting of the new year, White laid out "what lies ahead in 2015," noting that the agency will also consider obtaining "sufficient funding" for investment advisor exams, enhancing the disclosure of risks in target date funds, and completing the SEC's review of the "accredited investor" definition.
White also reiterated in her comments the measures SEC staffers started developing in December, saying the Division of Investment Management was developing recommendations to address the "increasingly complex portfolio composition and operations of today's asset management industry," which includes requiring advisors to have succession plans.
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
