The Financial Services Institute said it would work with the Securities and Exchange Commission as the agency continues its quest to adopt a uniform fiduciary standard for investment advisors and broker-dealers.

“FSI has long supported a uniform fiduciary standard that increases protection for investors without limiting access to financial advice and service for Main Street Americans,” Dale Brown, the institute’s president and chief executive said in a statement released Monday. “We appreciate the opportunity to provide information regarding potential rules and regulations, and we will be working with our members to respond to the SEC’s request for information. We look forward to working with the SEC to create an effective and efficient fiduciary standard.”

On Friday, the SEC called for more information from the financial services industry about the potential impact of its proposal to apply a uniform fiduciary standard of care to broker-dealers as well as financial advisors.

The proposed rule change, a long-time source of controversy between registered investment advisors and broker-dealers, is expected to be a front-burner issue for the industry in Washington this year, and is expected to emerge during upcoming Senate confirmation hearings for Mary Jo White, President Obama's nominee to head the agency on a permanent basis.