This week’s nomination of Wall Street attorney Jay Clayton to head the Securities and ExchangeCommission prompted speculation that the agency charged withpolicing financial markets will pivot from a rulemaking andenforcement posture to one focused on facilitating more access tocapital markets.

If accurate, the fate of the long-awaited SEC version of a rule creating a uniformfiduciary standard for the investment advisory industry may be injeopardy.

Last Spring, outgoing SEC Chair Mary Jo White said a proposal for thePersonalized Investment Advice Standard of Conduct rule would bereleased in April of 2017, about the time the Labor Department’s fiduciary rule is scheduledfor implementation.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.