SEC Chairwoman Mary Jo White headed to Capitol Hill to appeal for a modest budget increase, funding she says is needed to increase examinations of investment advisors and to bolster the commission's enforcement and rulemaking activities.
Testifying before the House Financial Services Committee on Tuesday, White also called for a uniform fiduciary standard that would apply in equal measure to advisors and broker-dealers, though she stressed that she is only in the early stages of developing a rule proposal, and will be working closely with staffers and her fellow commissioners on the issue.
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