As the SEC marked the 75th anniversary of the landmark statutes establishing oversight of investment advisors and mutual funds, the nation's top securities regulator cautioned that additional rules are needed to rein in the industry and protect investors.

In opening remarks at a day-long conference focused on the legacy of the 1940 Investment Company Act and Investment Advisers Act, SEC Chairman Mary Jo White indicated that the commission is developing new proposals to expand oversight of advisors and asset managers. Those proposals would include increased practice examinations and a uniform fiduciary standard.

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