Jay Clayton

The reforms could serve as a checklist for firms looking to enhance their own cybersecurity posture in light of the regulator’s increased scrutiny.

Lawmakers praise the spirit of the rule, but want to see a true uniform fiduciary standard.

The CEO of Pershing Advisor Solutions sees an opportunity for RIAs in the potential restrictions on a term that has stoked criticism.

Critics say the SEC isn’t living up to promises made when Jay Clayton became chairman.

Investment advisors and broker dealers have different “relationship models” with clients, the chairman says.

NASAA President Joseph Borg also vowed to work with SEC Chairman Jay Clayton’s team on improvements to the Regulation Best Interest proposal.

The departure might slow SEC Chairman Jay Clayton’s progress on creating stricter standards of conduct for brokers and advisors.

The regulator's proposal is set to remake compliance standards for brokers and advisors.

By requiring brokers to look out for clients’ best interests, the SEC is effectively requiring them to give financial advice, which distinguishes them from online brokers and should let them keep charging clients premium fees.

It appears the regulator bought into the investor choice argument of sales reps right from the beginning.