Mary Jo White

The legal heads of both firms challenge arguments made against the ability of robo advisers to serve their clients.

While it’s early in the process, a number of names are being floated as possible contenders.

The commission will examine how digital advice platforms uphold fiduciary responsibilities and safeguard client data.

The request foreshadows how the senator will attempt to influence the next president's cabinet and other key nominations.

More than a quarter of enforcement cases the commission brought in the just-ended 2016 fiscal year targeted planners and investment companies.

As rules pile up, industry leaders are looking for ways to help advisers navigate what they say has become a regulatory labyrinth.

Mary Jo White also said that the commission lacks sufficient resources to provide oversight of investment advisers.

To help identify fraudulent advertising , advisers will be required to create and maintain documents that demonstrate performance calculations or returns.

The proposed rule would require firms to have blueprints in place for natural disasters, cyber disruptions and transitioning clients if a practice winds down.

In contentious Senate testimony, White fended off accusations that the regulatory body has dragged its feet. Again, she did not offer a timeline for implementing a fiduciary rule from the SEC.

“The SEC is notorious for blowing through rule-making deadlines—both congressionally mandated and self-imposed, such as this,” says Micah Hauptman, financial services counsel at the Consumer Federation of America.

Commission staffers are probing how broker-dealers are handling ETFs and the extent to which investors understand the risks of the funds.